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MANILA - The PHP5.268 trillion national budget for 2023 contains allocations that will help protect the Philippine economy from the "negative" impact of internal and external shocks, the Department of Budget and Management (DBM) said on Wednesday. The DBM issued the statement a day after the Philippine Statistics Authority (PSA) reported that the country's headline inflation rate in January climbed to 8.7 percent from 8.1 percent in December 2022. The budget department said this year's national budget is composed of allocations intended for the implementation of the government's social protection, economic development, and disaster preparedness programs. "In addition to allocations meant for disaster-related and risk resiliency programs, the budget includes layers of social protection and economic emergency expenditure items that relatively shield the economy and its people from the negative effects of any shocks," it said. "In fact, social protecti ....
(File photo) MANILA - Around eight airports nationwide will receive funding under the 2023 national budget to undergo rehabilitation and improvement, the Department of Budget and Management (DBM) said on Thursday. In a statement, the DBM said the appropriation of funds was in line with the implementation of at least eight airport projects provided under the 2023 General Appropriations Act (GAA). Tacloban City Airport would get the highest budget amounting to PHP1.42 billion for its modernization, the DBM said. Following Tacloban Airport were Laoag International Airport and Antique Airport which would receive around PHP785 million and PHP500 million, respectively. The government, the DBM said, would also earmark PHP200 million for New Zamboanga International Airport, PHP80 million for the Bukidnon Airport, PHP50 million for Vigan Airport, PHP43 million for the Ninoy Aquino International Airport and PHP15 million for M'lang Airport. DBM Secretary Amenah Pangandaman said funding the p ....
Budget Secretary Amenah Pangandaman (File photo) MANILA - The Department of Budget Management (DBM) has allocated around PHP962.2 billion for the local government units (LGUs) nationwide in 2023 to boost their capabilities and enable them to fast-track the delivery of their basic services. The 2023 budget plan for LGUs represents around 18.3 percent of the proposed PHP5.268-trillion national budget for next year, the DBM said in a press statement on Wednesday. The DBM said around PHP820.27 of the PHP962.2 billion would be used for the National Tax Allotment (NTA) shares of LGUs, in accordance with the Mandanas-Garcia Supreme Court (SC) ruling. Under the SC ruling, LGUs get a bigger share in the collections of national taxes, as their internal revenue allotment (IRA) should come from 40 percent of all national taxes collected by the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BoC). The IRA share of LGUs, based on the old system, came only from the taxes collected by the ....
Budget Secretary Amenah Pangandaman (PNA photo) MANILA - The proposed PHP5.268 trillion national budget for 2023 will serve as a "springboard for the economy's full-speed recovery," the Department of Budget and Management (DBM) said Friday. Budget Secretary Amenah Pangandaman said the 2023 budget spending plan was crafted based on and in support of the Marcos administration's eight-point socioeconomic agenda. "The administration's first full-year budget shall serve as a springboard for the economy's full-speed recovery and meaningful structural reform," Pangandaman said, as the House of Representatives began its deliberations on the proposed 2023 budget. The proposed budget is anchored on the theme, "Agenda for Prosperity: Economic Transformation Towards Inclusivity and Sustainability." The 2023 budget plan, Pangandaman said, would address the immediate and pressing concerns of Filipinos in the near- and medium-term. Filipinos' purchasi ....