Proposed P4.5-trillion budget for 2021 being finalized

MANILA, Philippines — The proposed P4.5-trillion budget for 2021 was still being finalized, Budget Secretary Wendel Avisado said.

“It’s still being finalized. We have until August 27 within which to submit to Congress the proposed 2021 national budget,” Avisado said in a text message.

The 1987 Constitution allows the executive branch to submit its proposed budget to Congress within a month from the start of the regular session, he said.

The Department of Budget and Management said nearly half of the proposed P4.506 trillion budget would be composed of borrowed funds.

—Julie M. Aurelio