Senate kicks off hearing on 2020 P4.1 trillion national budget
MANILA, Philippines — A briefing from members of the Development Budget Coordination Committee (DBCC) on Thursday marked the start of the Senate Finance Committee’s deliberations on the proposed 2020 P4.1 trillion national budget.
Department of Finance (DOF) Undersecretary Gil Beltran, acting Department of Budget and Management (DBM) Secretary Wendel Avisado, Bangko Sentral ng Pilipinas (BSP) Deputy Governor Francisco Dakila Jr., National Economic and Development Authority (NEDA) Secretary General Ernesto Pernia and other officials attended the hearing of the committee chaired by Senator Sonny Angara.
The DBCC is the interagency body that determines the overall economic targets, expenditure levels and budget of the government.
Dakila, representing BSP Governor Benjamin Diokno, presented the country’s monetary, financial and external developments and the outlook for 2019 and 2020.
Pernia, meanwhile, provided an overview of the economic performance of the Philippines and prospects for growth and development for 2019, 2020 and over the medium term.
Beltran, representing DOF Secretary Carlos Dominguez III, presented the country’s fiscal revenue collection performance and how the budget will be financed for 2020 and over the medium term.
Avisado, as of posting time, is presenting the proposed National Expenditure Plan for 2020 and the agency’s priority expenditures for 2020.
Last week, the DBM transmitted the copies of the 2020 NEP to both houses of Congress.
Angara earlier predicted a “tough and thorough” scrutiny of the proposed 2020 budget while Senator Panfilo Lacson, vice chairman of the Senate Finance Committee, asked the public to help expose and scrutinize “pork” and other insertions in the 2020 national budget. /gsg
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