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DBM to Present 2021 PH National Budget to Congress in August

  • The PH Department of Budget and Management is scheduled to present to Congress the draft national budget for 2021 in August.
  • The Development Budget Coordination Committee has already accepted the 2021 budget ceiling of P4.506 trillion.
  • The budget expected for next year is higher than the P4.1 trillion earmarked for this year.
  • Visit The Financial Today’s homepage for more stories.

Manila • The Philippines’ Department of Budget and Management is scheduled to present to Congress the draft national budget for 2021 in August.

Budget Undersecretary Laura B. Pascua said on Sunday that the Development Budget Coordination Committee has already accepted the 2021 budget ceiling of P4.506 trillion. The budget expected for next year is higher than the P4.1 trillion earmarked for this year.

“The P4.506-trillion (budget) was approved by the DBCC for recommendation to PRRD (President Rodrigo R. Duterte). We have to meet the constitutional deadline by Aug. 26,” Ms. Pascua said on Sunday.

The amount is higher than the previous P4.335 trillion proposal, after considering the effects of the coronavirus crisis.

The DBM is given 30 days from the State of the Nation Address date to forward the national budget submitted to Congress.

House of Representatives Majority Leader and Leyte Rep. Ferdinand Martin G. Romualdez said the timely adoption of a national budget “stimulus” for 2021 as well as steps intended to resolve the crisis would be the priorities of the 18th Congress for its second session which opens on Monday.

“We are going to hit the ground running. Time to roll up our sleeves once again and work double time to immediately pass the national budget and the COVID-19 roadmap for recovery,” Mr. Romualdez said in a statement on Sunday.

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[BusinessWorld]

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