President Rodrigo Duterte has approved the P4.506-trillion national budget proposed for 2021, which the government said would help sustain its response to the coronavirus pandemic.
In a statement on Sunday, August 2, the Department of Budget and Management (DBM) said the President green-lighted the proposed budget on Thursday, July 30, in a special meeting with the Development Budget Coordination Committee.
The 2021 proposed budget is higher by 9.9% than the current 2020 budget, which amounted to P4.1 trillion. The DBM added that the proposed 2021 budget is equal to 21.8% of the country's gross domestic product or GDP.
Congress will scrutinize these proposed allocations for 2021 in the coming months. Then, it will head back to Duterte's desk for his signature.
The DBM explained that the proposed 2021 funds seek to "sustain government efforts towards effectively responding to the COVID-19 pandemic."
With the budget's theme “Reset, Rebound and Recover: Investing for resiliency and sustainability," government spending will be focused on "improving our healthcare systems, ensuring food security, increasing investments in public and digital infrastructure, and helping communities cope and prevail in these trying times."
These are in line with "the administration's goal of saving lives and protecting communities while making different sectors of the economy stronger and more agile," said the department. – Rappler.com