ADVERTISEMENT
Filtered By: Money
Money

Quicker project implementation, higher gov't spending for 2013 — Abad


+
Add GMA on Google
Make this your preferred source to get more updates from this publisher on Google.

President Benigno Aquino III's early signing of the P2.006-trillion General Appropriations Act on Wednesday paves the way for quicker program implementation and higher government spending that could surpass 2012 levels, Budget and Management Secretary Florencio Abad said Wednesday.   “We have every reason to believe that public spending will go on a confident and energetic trajectory in 2013,” he said. Abad added that the early budget signing means that releases can start as early as the first working day of 2013. "This means that the agencies can get on with their priority programs and projects with little to no delay, so that Filipinos can gain immediate access to key public goods and services,” he said.   Saying that international investor confidence in the Philippines grew in 2012 due to the country's improved fiscal performance, Abad said that the 2013 budget “takes its cue from this by re-empowering our citizens through programs that generate jobs, ensure better health and education among the population, and sustain the growth of industries that are beginning to figure prominently in our economic discourse.” The Department of Education will receive P232.6 billion, the largest budget allocation among the government departments. — BM, GMA News