July 22, 2018, 11:55 pm
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P3.7T budget for 2019 approved

PRESIDENT Duterte and his Cabinet approved on Monday night the proposed P3.757 trillion budget for 2019, presidential spokesman Harry Roque said yesterday.

Roque, in a press briefing in Indang, Cavite, said Budget Secretary Benjamin Diokno presented the proposed budget for next year during the 27th Cabinet meeting in Malacanang.

He said the biggest share of the proposed budget or about 31.5 percent will go to personnel services or P1.185 trillion, while 20 percent or about P752.7 billion has been allotted for capital outlay.

Allotments to local government units like their internal revenue allotment and shares on the proceeds from national taxes account for about 17.1 percent of next year’s budget or about P640.6 billion, while the maintenance expenditures account for 15 percent or P562.9 billion.

Also included in next year’s budget is the P414.1 billion fund for debt burden which accounts for about 11 percent of the allotment, and the P14.5 billion allocation for tax expenditures which accounts for about 0.4 percent.

The proposed 2019 budget is about 19.4 percent of the gross domestic product.
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