THE Senate version of the proposed P5.268 trillion national budget for 2023 targets to boost the country’s economy and bring down the number of poor families in the country, Sen. Juan Edgardo Angara vowed yesterday as he sponsored the report of the chamber’s Finance Committee.
In his speech, Angara said his panel made sure that every peso to be spent “is aligned with his (President Marcos’) administration’s thrust.”
“And what are these? Boost economy. Cut poverty. Trim the deficit. Pare debt. And catapult us to the league of upper middle-income nations,” he said.
To address hunger and poverty, Angara said his panel has given the Department of Agriculture, which is currently headed by the President Marcos, a 39.5 percent increase, or P179.762 billion, in its budget for next year.
He said attached DA agencies will benefit from the increase, which he said is expected “to fill in the logistical gaps in our food system nationwide.”
Angara said that to enhance recovery and spur economic activities, his committee gave premium to extending assistance to micro, small, and medium enterprises (MSMEs), having a stable internet connection nationwide, support for the government’s digital transformation programs, reopening of the tourism industry, and allowing local communities “to have a more direct role to play in their own development through devolution and decentralization.”
He said ample funds are also appropriated for assistance to poor families, additional budget for the government’s disaster and calamity response, ensure the safety and protection of learners amid the return of face-to-face classes, strengthening of the healthcare system, improving infrastructures and for the national defense and security sectors.
Angara said in his panel’s version of the proposed P5.268 trillion national budget, P1.5979 trillion are automatic appropriations, while P4.259 trillion is for government spending in programs, activities, and projects.
Angara said a big chunk of the P4.259 trillion, or P3.671 trillion, are for “programmed new appropriations” while P588 billion is earmarked for “unprogrammed” appropriations.
“We also hope to support our diplomatic corps so that they can project a better image of the Philippines and that we as a nation can play a bigger role in world affairs,” he added.
Angara said they have also set aside funds for the welfare of overseas Filipino workers, especially now that the Department of Migrant Workers has been established, and for the preservation of the environment.
“The budget also aims to plant the seeds for our future sources of development and prosperity by supporting initiatives focused in Science, Technology, and Innovation,” he said.
‘CLEARER PICTURE’
Angara said the public be aware of how and how much the government spends and borrows every day so they can have a “clearer picture of the huge funding gap which must be plugged by borrowings.”
“On a daily basis, the government will be spending P14.4 billion, of which only P10 billion is supportable by revenues. The P4.4 billion is the deficit that must be financed by debt. ‘Yan ang patay ng metro natin kada 24 oras. Bago lumubog ang araw, kailangan makalikom ng P7.2 billion. Bago sumikat naman, dapat makakamada ng P7.2 billion ulit (That’s how our spending goes every 24 hours. Before the sun sets, the government needs to collect P7.2 billion. Before the sun rises, the government needs another P7.2 billion),” Angara said.
“These easy to memorize numbers should be a sobering reminder that against many requests being asked of the government, there are no ‘unli’ resources to fund them,” he said.
He said this the reason why the country needs to speed up economic recovery and pour in sufficient funds to different agencies.
“All of the above call for smart budgeting, where nothing is wasted or delayed, in budget execution, when the hope and promise these appropriations bring is waylaid by procurement anomalies. Smart budgeting is what we have endeavored to do. At para dito, taos puso kaming nagpapasalamat (And for this, we thank you very much),” he said.
