P23-B Supplemental Budget to Scale Up Yolanda Aid, APEC Preps

Manila — In its bid to develop a more responsive budget plan for the next fiscal year, the Department of Budget and Management (DBM) is pushing for a P23-billion supplemental budget to ensure sufficient funding support for crucial development initiatives, including various infrastructure projects for post-Yolanda rehabilitation and government preparations for the 2015 Asia-Pacific Economic Cooperation (APEC) Summit.

Budget Secretary Florencio “Butch” Abad explained, “The National Treasury has already certified the availability of funds to support these projects, but these appropriations must likewise be supported by proper legislation. With the proposed 2015 National Budget already subject to Senate deliberations, we need the support of the House of Representatives to pass a supplemental appropriations bill to fund these projects.”

A total of P16.4 billion—comprising the bulk of allocations under the supplemental budget—has been earmarked for new priority initiatives. Of this amount, the Administration’s Yolanda reconstruction and rehabilitation program will get P9.5 billion. Another P1.44 billion will support key projects in preparation for the APEC Summit, which the Philippines will be hosting next year.

The Budget chief also said that the supplemental budget will cover liabilities arising from obligated infrastructure projects worth P1.85 billion under the Department of Public Works and Highways (DPWH). Lastly, a total of P5.08 billion will be coursed to a number of priority projects under various government agencies. The funds will account for the budgetary requirements of priority projects that were partially implemented or previously approved for implementation this year.

Abad said, “Most of these projects have already been completed, are on-going, or are urgently needed to sustain our socio-economic development. The passage of the proposed supplemental budget will allow us to allocate funds accordingly so we can complete these projects right away.“

If approved by Congress, the 2014 Supplemental Appropriations will fund a number of priority projects, ranging from the rehabilitation of the LRT lines 1 and 2 to the construction of permanent housing for the victims of super typhoon Yolanda. (DBM)

Image Credit: www.spug.ph