Congress OKs P2.6-T 2015 national budget

MANILA, Philippines - The Congress approved the proposed P2.606 trillion national budget for 2015 on Wednesday.

Senate Finance Committee Chair Sen. Francis "Chiz" Escudero said that the ceiling was not reduced but was realigned amounting to P72.542 billion, majority of which came from the unprogrammed funds within agencies.

The Senate version of the definition of "savings" was adopted, in accordance to the Supreme Court ruling on some provisions of the Priority Development Assistance Fund and Disbursement Acceleration Program.

"They cannot declare savings if the projects did not push through because of their own faults,” Escudero said.

The bicameral committee agreed not to restore the P53.9-billion buyout of the Metro Rail Transit. A big part of the said fund will be realigned for the rehabilitation of calamity-hit areas.

Escudero added that the panel removed he P8 billion fund for Bangsamoro entity.

”If the Bangsamoro Basic Law will be approved, there will be a Bangsamoro transition commission which will handle the ARMM (Autonomous Region of Muslim Mindanao) fund amounting to Php24 billion. That’s enough," Escudero said.

On the other hand, the bicameral panel approved the proposed P2 billion contingency fund for the Office of the President and P14 billion for National Disaster Risk Reduction and Management.

The Quick Response Fund of the Department of Social Welfare and Development, Department of Public Works and Highways and the Department of Science and Technology will receive P1 billion each for relief and rehabilitation.

The committee report will be forwarded to the House and the Senate for further ratification before being submitted to President Benigno Aquino III for approval.

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