Briones Urges Duterte to Form Economic Team, Harmonize Development Plan

Former national treasurer and University of the Philippines professor Leonor Briones called on President-elect Rodrigo Duterte to form his economic team immediately so that the incoming administration can “hit the ground running” once he assumes the presidency next month.

In Thursday’s press briefing at Max’s Restaurant in Quezon Memorial Circle, Briones said the formation of Duterte’s economic team — comprised of the National Economic and Development Authority (NEDA), the Department of Finance (DOF), and the Department of Budget and Management (DBM) — is crucial in laying down the details of the incoming President’s 8-point economic agenda.

Briones, who is also the Social Watch Philippines (SWP) Lead Convenor, emphasized that the economic team is also vital in setting macroeconomic and fiscal policies, and in crafting development plan and policies along with their corresponding budgets to effectively address socio-economic issues.

Carlos Dominguez III, former Agriculture secretary of President Corazon Aquino and Duterte’s campaign finance head, has accepted the offer as Finance chief in Duterte’s Cabinet.

Furthermore, Briones pointed out the need for a harmonized development plan for his 8-point economic agenda.

“The development plan will have to harmonize the objectives of the 8-point economic program which is directed to the business sector and the social development sectors which have been promised to the CPP-NDF (Communist Party of the Philippines-National Democratic Front),” said the SWP Lead Convenor.

According to the former national treasurer, the national budget may restrict any new programs and policies the new administration plans to execute for at least the next two years.

Briones cited figures released by the DBM showing that 83.5 percent, or Php2.51 trillion, of the Php3.002-trillion budget for 2016 have been considered released for specific programs and projects of the current administration.

Meanwhile, 82 percent or Php2.763 trillion of the Php3.35 trillion proposed budget for 2017 is set to continue these on-going programs and projects.

A fiscal space of Php580.9 billion was allocated for 2016, and only Php587.5 billion is left for fiscal space in 2017 for expanded and new spending proposals, noted Briones.

She therefore advised the president-elect to create an inventory of the remaining 2016 budget and craft his 2017 budget proposal to strategically finance his prospective policies and programs. This proposal will be presented in the incoming President’s first State of the Nation Address (SONA) during the opening of the 17th Congress in July. (PNA) LAM/FMC