Palace certifies as urgent proposed P5-trillion 2022 budget

on

Malacañang has certified as urgent the proposed P5.024-trillion budget for 2022.

In a September 29 letter addressed to House Speaker Lord Allan Velasco, the Palace said it was seeking the immediate enactment of House Bill 10153, or the 2022 General Appropriations Bill.

President Rodrigo Duterte said the spending measure must be immediately enacted to “address the need to maintain continuous government operations following the end of the current fiscal year, to expedite the funding of various programs, projects, and activities for FY 2022, and to ensure budgetary preparedness that will enable the government to effectively perform its constitutional mandate.”

According to Velasco, the House aims to pass its version of the 2022 national budget by September 30, or before Congress suspends session on October 17 to November 15 for the filing of certificates of candidacy for the May 2022 elections.

Velasco said the overall objective is for Duterte to sign the 2022 General Appropriations Act by December to prevent a reenacted budget that could slow economic growth and hamper the delivery of government services.

The proposed budget for next year is 11.5 percent higher than this year’s P4.506 trillion.

It is guided by a strategy supported by three main pillars – Building Resilience amidst the Pandemic; Sustaining the Momentum towards Recovery, and Continuing the Legacy of Infrastructure Development.

The social services sector will receive the largest share of P1.92 trillion or 38.3 percent of the total 2022 budget.

The economic services sector will receive the second largest share at 29.3 percent or P1.474 trillion; 17.2 percent or P862.7 billion to general public services; 10.8 percent or P541.3 billion to debt burden (including net lending); and 4.5 percent or P224.4 billion to defense.


Discover more from Current PH

Subscribe to get the latest posts sent to your email.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

MUST READ

LIVE: President Ferdinand R. Marcos Jr. State of the...

https://www.youtube.com/watch?v=hdgmM2gkXZg Watch the LIVE coverage of the State of the Nation Address (SONA) 2026 of President Ferdinand R. Marcos Jr. The State of the Nation Address...

PNP UMABUSO SA PANANAKIT SA AMING KASAMAHANG PHOTOG BULLET...

https://www.youtube.com/watch?v=GwQEH-FD2ug🇵🇭 Currentph News TV — Real News. Real Talk. Real Impact. Welcome to Currentph TV, the digital news and public affairs channel built for the...
video

SONA 2026: Marcos, China, US Alliance and the Philippines’...

https://youtu.be/p3zyjwm2oHM SONA 2026: Marcos, China, US Alliance and the Philippines' Next Direction As President Ferdinand Marcos Jr. prepares to deliver his 2026 State of the Nation...
video

Marcos 2028 Legacy: Economy, Corruption and West Philippine Sea...

https://youtu.be/1e0md4a2e0I Marcos 2028 Legacy: Economy, Corruption and West Philippine Sea Challenges As the Marcos administration moves closer to its final years in office, attention is turning...
video

SONA 2026: Marcos Faces Trust Drop, Flood Scandal and...

https://youtu.be/h49wdASICyU SONA 2026: Marcos Faces Trust Drop, Flood Scandal and Reform Pressure Today With President Ferdinand Marcos Jr.'s 2026 State of the Nation Address approaching, public...

Discover more from Current PH

Subscribe now to keep reading and get access to the full archive.

Continue reading

Discover more from Current PH

Subscribe now to keep reading and get access to the full archive.

Continue reading