House leaders hail signing of P4.1-T 2020 budget Monday

Published January 5, 2020, 12:00 AM

by manilabulletin_admin

By Charissa Luci-Atienza 

House leaders said on Sunday that the scheduled signing into law of the proposed P4.1 trillion national budget on Monday, January 6, would help improve the country’s economic landscape, as it would ensure the continuity of the government’s projects, boost economic activities, and guarantee “a better and more comfortable life” for Filipinos.

(Ali Vicoy / MANILA BULLETIN)
(Ali Vicoy / MANILA BULLETIN)

Davao City Rep. Isidro Ungab, chairman of the House Committee on Appropriations, said President Duterte’s signing into law of the proposed General Appopriations Act for 2020 would boost the national economy and generate jobs for the Filipinos.

“It is important that the government will have an operating budget on the first week of January. The Philippine economy will be bolstered with government expenditures to the tune of P4.1 trillion, which is expected to boost economic activities and have subsequent multiplier effects to the various sectors of the economy,” Ungab said in an interview.

Ungab confirmed on Thursday, January 2 that President Duterte will sign the proposed P4.1 trillion national budget for 2020 on Monday, January 6.

He made the confirmation after the Presidential Legislative Liaison Office (PLLO) informed the Lower Chamber that the signing ceremony of the proposed 2020 General Appropriations Act (GAA) is set on January 6 at 4 p.m. at Rizal Hall of Malacañang Palace.

For his part, House Majority Leader and Leyte Rep. Martin Romualdez vowed the Lower Chamber’s commitment to help the Duterte government achieve “A” credit rating before he leaves Malacañang Palace in 2022.

“The President has been working hard to make a comfortable life for Filipinos. The economic growth is attributed to the sound economic policy of President Duterte who has been pursuing structural reforms needed to guarantee the country’s economic takeoff,” he said.

“We are notch away from ‘A’ territory rating after a vote of confidence by Standard & Poor’s (S&P), upgrading the country’s credit rating from ‘BBB’ to ‘BBB+’ with a stable outlook because of the robust economic growth,” Romualdez said.

For his part, Cavite Rep. Elpidio “Pidi” Barzaga, Jr., president of the National Unity Party (NUP), said the 2020 national budget “will make the country more inclusive than what it was the year before” and “guarantees a better and more comfortable life for most Filipinos.”

“Our new budget for this year has been designed to support a very strong, sustainable, and equitable growth to be felt by ordinary Filipinos,” he said.

For his part, Deputy Speaker and Batangas Rep. Raneo Abu anticipated that there will be equitable distribution of projects among district and party-list representatives.

“With competing demands over limited public resources, we looked at how the appropriations were strategically distributed across sectors, agency programs and geographic subdivisions, having approved a constitutionally compliant budget,” he said.

For his part, Ako Bisaya party-list Rep. Sonny Lagon noted that the 2020 budget appropriate funds for programs and projects in accordance with a clearly-defined roadmap for peace and progress, as President Duterte values transparency and accountability in the disbursement of public funds.

“This is a big boost to our desire for more foreign and domestic investments in the country to create more jobs and ensure development in the countryside. We will continue to support President Duterte’s efforts in pursuing structural reforms needed to ensure higher economic growth,” Lagon said.

 
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