MANILA, Philippines -- The proposed P1.415 trillion budget is ready for submission by the congressional bicameral committee to the Senate and House of Representatives when sessions resume next week, Senator Edgardo Angara said on Tuesday.

Angara, chairman of the Senate finance committee, said he and his counterpart in the House, Quirino Representative Junie Cua, would be finishing reconciling the differences on the versions of the 2009 budget by the two houses.

And next Monday, Angara said they might be able to report to the bicameral committee and submit the final version of the budget for ratification by both houses either later in the day or the following day.

“Matatapos na kami. Siguro masa-submit na namin by Monday yung [We will be finished soon. Maybe we could submit the final version by Monday] for ratification,” he said over the phone.

Angara said the committee would also adopt a proposal to make the budget effective starting Jan. 1, 2009.

To avoid a re-enacted budget, Senate President Juan Ponce-Enrile suggested the inclusion of a “retroactive” provision in the budget book.