House to approve P2.6-trillion budget for 2015 this week Created on October 27, 2014, 9:45 am Posted by nup

The House of Representatives is set to approve the proposed P2.606 trillion national budget for 2015 on third and final reading next week before the Congress adjourns for its  annual Halloween recess.

The chairman of the House appropriations committee, Davao City Rep. Isidro Ungab, said the chamber made no major changes to the budget proposal sent by President Benigno Aquino III to the Congress.

“We intend to approve it before next weekend’s Halloween recess  and  it will be sent to the Senate after its approval on final reading,” Ungab said.

Of the P2.606-trillion proposed budget, 64 percent included, among others, allocation for Personnel Services (P761.7 billion); Financial Expenses (P374.5 billion), including Debt Servicing of P372.8 billion; Internal Revenue Allotment for local government units (P389.8 billion); other automatic appropriations (P72.7 billion); and, foreign-assisted projects (P69.5 billion).

The balance of 36 percent will support the regular MOOE (Maintenance and Other Operating Expenses) of various departments and agencies amounting to P488 billion, and about P449.5 billion for capital outlay for the implementation of various infrastructure projects and the acquisition of amchinery and office equipment.

The top 10 agencies that will get the bulk of the budget are:

Department of Education - P365.1 billion 

Department of Public Works and Highways - P300.5 billion 

Department of National Defense - P144.0 billion 

Department of Interior and Local Govt. - P141.4 billion 

Department of Social Welfare and Devt. - P109 billion 

Department of Health - P102.2 billion 

Department of Agriculture - P88.8 billion 

Department of Transportation and Communication - P59.4 billion 

Department of Environment and Natural Resources - P21.3 billion 

Judiciary - P20.28 billion 

The proposed spending measure  is 15 percent or P341 billion higher than the 2014 national budget  of P2.265 trillion.

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