Malacañang proposes a budget of 3 757 billion P3 for 2019

Malacañang proposes a budget of 3757 billion P3 for 2019

Christina Mendez (The Philippine Star) – 11 July 2018 – 12:00

MANILA, Philippines – Malacañang has approved in Congress the draft national budget P3.757-trillion for next year.

Presidential Spokesman Harry Roque Jr. said that President Duterte approved the budget proposed by the Department of Budget and Management DBM) at the Cabinet meeting Monday evening

As part of the budget the main allowances are 1.185 billion pesos for personal services; 562.9 billion pesos for maintenance expenses; 752.7 billion pesos for capital expenditures; Allocation of 640.6 billion pesos to local authorities (LGU); support to controlled and government-owned companies (GOCC), 187.1 billion pesos; tax expenditures to 14.5 billion pesos; For 2019, DBM announced that the government will implement the annual system of liquidity-based credits, estimated at 3,468 billion pesos, which will focus on investments in infrastructure and social services development, in line with forecasts . The goal of the administration is to ensure that the Philippines reaches the status of middle-income country and become a globally competitive economy by 2022.

Among the major projects in the world, Build Build Build build infrastructure for 2019 Phase 1 of the project; P600-million LRT Line 1 North Extension (joint station) and the Bonifacio Global City-Ortigas Center Road Link Project P500-million

The government is also considering the construction of Phase 3 of the North-South Railway Project (P58. 2- billion); PNR North 2 (39.9 billion pesos); North-South Commuter Railway Project (19.7 billion pesos); Pump irrigation of the Chico River (P2.2 billion) and phase 3 of the arterial road bypass (P2.2 billion); New international container port of Cebu (1.9 billion pounds); New Bohol International Airport (Panglao) (754 million pesos); Panay River Basin Integrated Development Project (500 million pesos); Phase 1 Mindanao Railway Project (P2.2 billion) Malitubog-Maridagao Irrigation Phase II (P 1.5 billion); Panguil Bay Bridge (907 million euros) and Davao Airport (565 million euros)

Roque said the Cabinet also discussed the establishment of the Department of Disaster Resilience , with the implementation of the agrarian reform. acquisition of the NovaSAR system.