MANILA, Philippines - The bicameral conference committee, composed of members from the House of Representatives and the Senate, on Wednesday approved the proposed P3.002-trillion national budget for 2016.
House Majority Floor Leader and Mandaluyong Rep. Neptali Gonzales II said lawmakers from the House of Representatives will ratify the bicameral committee report on the 2016 budget by next week.
The hearing of the bicameral conference committee was earlier suspended to allow the members to discuss and compare the respective versions of the proposed budget.
According to a report, the bicameral committee decided not to slash the budget for the conditional cash transfer (CCT) program.
The Senate earlier decided to cut P8 billion from the CCT funds and revert it to the Philippine Air Force augmentation.
Social Welfare Secretary Corazon "Dinky" Soliman said that the agency cannot accept the reduction of the CCT budget as it would affect the cash grants to more than 15 million individual beneficiaries.
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