DBM eyes P4.506T national budget for 2021
MANILA, Philippines — The Department of Budget and Management (DBM) is eyeing a national budget of P4.506 trillion for 2021, of which nearly half will be composed of borrowed funds, Budget Secretary Wendel Avisado said Thursday.
“From P4.1 trillion this year, aabot po tayo siguro ng mga P4.506 trillion,” Avisado told ABS-CBN’s Teleradyo when asked about the estimated proposed budget for 2021.
(From P4.1 trillion this year, maybe we will reach P4.506 trillion.)
This is higher than the P4.3 trillion budget for next year earlier mentioned by Avisado during a Laging Handa public briefing on June 24.
“Hopefully nasa mga, if I am not mistaken, mga 49 percent or less,” he further said when asked about the percentage of the amount will be borrowed either domestically or internationally.
Avisado noted that a portion of the funds to be borrowed will be allocated for the Build, Build, Build program, the Duterte administration’s flagship infrastructure drive.
He said that the country still has to balance funds for health and the economy amid the continuing threat of the coronavirus disease 2019 pandemic.
The government should also generate “labor-intensive activities” to help Filipinos secure jobs amid the crisis, said the DBM chief.
Avisado likewise advised that the government should not have new building projects for now and instead finish those that have already been started to be able to cut costs.
He also advised the tightening of the budget for the government’s maintenance and other operating expenses.
“’Yung mga basic na lang po ang kailangan natin. Bagkus ang sinisiguro po natin ay kahit ano po ang mangyari ay sasahod po lahat ng nagtatrabaho sa gobyerno, maregular man, contract of service, o job order,” said the budget chief.
(We only need what is basic. Nevertheless, we assure that no matter what happens, everyone working in the government, including regular workers or those with a contract of service or job order, will receive their wages.)
RELATED STORIES
DBM: Health, food security, infra among priorities in 2021 budget
