MANILA, Philippines — Department of Budget and Management (DBM) Secretary Wendel Avisado on Saturday said that the proposed national budget for 2022 could reach P5.024 trillion.
“At sa 2022 nga, inihahanda na natin yung budget call natin, aangat ng about 11.5 percent ang ating level of proposed budget for 2022, from P4.506 trillion to P4.024 trillion,” Avisado said during the Laging Handa online press briefing.
(We are preparing our budget call for 2022, which will have an 11.5 percent increase from P4.506 trillion to P4.024 trillion.)
But in a text message to INQUIRER.net, Avisado clarified that the proposed budget for that year is actually at P5.024 trillion.
“That is about 22.2 percent of GDP (gross domestic product),” he added.
The Philippines’ GDP contracted in the third quarter of 2020, recorded at 11.5 percent, compared to the 16.9-percent fall in the second quarter of 2020.
But Avisado hopes that the numbers will improve next year.
“Next year inaasahan na instead na sa ngayon nag-negative tayo ay babalik tayo sa positive hopefully between 6.5 to 7.5 ang economic growth for next year at tataas ‘yan from 8 to 10 sa 2022,” he said.
(Next year, we are expecting that since we dipped in negative, we will bounce back to positive hopefully between 6.5 to 7.5 economic growth for next year, then from 8 to 10 in 2022.)