PNoy Ok’s P2.265 Trillion 2014 Budget

President Benigno Aquino III on Friday signed the 2014 General Appropriations Act amounting to P2.265-trillion, which is 13 per cent higher than this year’s budget

Authorities said the P2.265-trillion includes 37.2 percent or P841.8 billion for social services, 26.2 percent or P593.1 billion for economic services, 16 percent or P362.6 billion for general public services, 16.7 percent or P377.6 billion for debt payments and 4 percent or P89.5 billion for defense.

The 2014 national budget includes P13 billion calamity funds, P20 billion rehabilitation fund for areas devastated by typhoon Yolanda and P80 billion for reconstruction projects under the unprogrammed fund which will serve as “standby authority and ready authorization for spending for the foreign donations and grants for victims of typhoon Yolanda.”

The president signed the 2014 General Appropriations Act, which is P258.7 billion higher than this year, without the heated Priority Development Assistance Fund (PDAF).

Earlier, the Supreme Court declared the PDAF as unconstitutional.

Source: Gma News Online