Palace seeks timely passage of budget for 2020

August 9, 2019

Malacanang urged on Friday Congress for the timely passage of the proposed budget for 2020 so the economy will grow faster.

But the Department of Budget and Management has yet to forward to the House of Representatives the proposed P4.1-trillion budget for next year.

"The Office of the President also joins (Socioeconomic Planning) Secretary (Ernesto) Pernia in calling on the Legislative Branch for the timely passage of the national budget for Fiscal Year 2020 for the continuing implementation of the Build, Build, Build Program, as we request our lawmakers to prioritize the legislative agenda of the President, which include the TRABAHO bill, the Foreign Investment Act, the Public Service Act, the Retail Trade Liberalization Act, and a revised Security of Tenure Bill, to address investment uncertainties caused by external factors," said Presidential Spokesperson Salvador Panelo in a statement.

Pernia, in a press conference on Thursday, on the country's economic performance, blamed the delay in the passage of the P3.757-trillion budget this year for the slowed 5.5 percent gross domestic product expansion in the second quarter.

President Rodrigo Duterte only signed into law the General Appropriations Act of 2019 last April.

Pernia also attributed lower growth on the election ban on government construction.

Panelo said Duterte has directed concerned government agencies to undertake pre-procurement processes to attain target disbursements in addressing the economic impact of the previous ban on public construction activities.

Duterte instructed them to speed up approval of permits and requirements for public construction projects, said Panelo.

He said Duterte has also instructed the Department of Information and Communications Technology and  the Technical Education and Skills Development Authority ( TESDA), to aim for higher value-added business processes to enhance the IT-BMP sector so the industry would undergo retooling to improve skills.

Panelo reiterated that the Palace believes that a lower GDP growth was just temporary.

"While growth has slowed down in the second quarter of this year, the Office of the President has been assured by our economic managers that this is simply a temporary setback," he said.

Panelo said the Palace remains optimistic in pursuing the government's macroeconomic targets despite challenges the country faces.

"The President and this Administration are facing these challenging times head on, confident that our country will go back on track in keeping the growth momentum in the right trajectory. The President remains committed in making the lives of all Filipinos secure and comfortable," said Panelo, also chief presidential legal counsel.

The government is eyeing 6 to 7 percent GDP growth this year. Celerina Monte/DMS