Duterte’s economic team sets 2021 nat’l budget at P4.64T

President Rodrigo Duterte’s economic team, collectively as the Development Budget Coordination Committee (DBCC), has approved a P4.640-trillion national budget for 2021.

The proposed budget for 2021 is equivalent to 20.2% of the country’s gross domestic product (GDP).

It is also 13.3% more than the P4.1-trillion national budget for 2020.

The DBCC’s announcement follows the congressional bicameral conference committee’s approval of the report on the P4.1-trillion budget for 2020.

The bicam report will be presented to the Senate and House of Representatives for ratification before it is sent to the President for signature and enactment.

“The proposed 2021 National Budget will continue to support anti-poverty and peace-sustaining measures through funding of recently-approved legislative measures,” the DBCC said.

The Duterte’s economic managers noted a continuing funding for the following priority social protection and economic programs of the government:

• Universal Health Care Program

• Pantawid Pamilyang Pilipino Program

• Rice Tariffication Law

• provision for the Annual Block Grant, Special Development Fund, and Share in National Taxes of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM)

• Universal Access to Quality Tertiary Education

• Refocusing of National Government assistance to LGUs with high poverty incidence

• Climate change mitigation and adaptation measures

The DBCC also approved the creation of a Subcommittee on Sustainable Development Goals (SDG) to review and make recommendations regarding SDG-related policies and programs.

“We are committed to building a more effective and competitive economy, one that will provide good jobs to our workers, improve the living conditions of the poor, and create more opportunities for all Filipinos” it said. —Ted Cordero/VDS, GMA News