Senate opens deliberations on P5.024 trillion budget for 2022 | Inquirer News
Close  

Senate opens deliberations on P5.024 trillion budget for 2022

/ 09:57 AM September 08, 2021
Seal of the Senate; national budget

Seal of the Senate of the Philippines. Graphics by Ed Lustan

MANILA, Philippines — A briefing from members of the Development Budget Coordination Committee (DBCC) on Wednesday marked the start of the Senate finance committee’s deliberations on the proposed P5.024-trillion national budget for 2022.

The DBCC is the interagency body that determines the overall economic targets, expenditure levels and budget of the government.

ADVERTISEMENT

It is composed of the Department of Budget and Management (DBM), National Economic and Development Authority, Department of Finance, and Bangko Sentral ng Pilipinas (BSP).

“This is a very important year given the circumstances we find ourselves in,” said Senator Sonny Angara, chairman of the finance panel.

FEATURED STORIES

The hearing of the Senate finance panel kicked off with a briefing from BSP Governor Benjamin Diokno.

A briefer earlier provided by the DBM showed that a large portion of the national budget would be allocated to social services, amounting to P1.922 trillion or 38.3 percent while economic services would get P1.474 trillion.

General public services would get P862.7 billion or 17.2 percent; debt burden P541.3 billion or 10.8 percent and defense spending P224.4 billion or 4.5 percent.

The House of Representatives started committee deliberations on the budget last Aug. 26.

Senate President Vicente Sotto III previously said the transmission of the House-approved budget to the Senate is expected in October, prompting plenary deliberations on the country’s spending bill for next year.

In the meantime, the Senate will simultaneously deliberate on the budget at the committee level.

EDV

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.
Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: 2022 national budget, Development Budget Coordination Committee (DBCC), Senate
For feedback, complaints, or inquiries, contact us.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and
acknowledge that I have read the Privacy Policy.



© Copyright 1997-2021 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.