Allocations for calamity-related projects seen to hit P130B
Budget Secretary Florencio Abad Jr. FILE PHOTO
MANILA, Philippines – The government’s appropriations for calamity-related projects alone this year and in 2014 could reach up to P130 billion, Budget Secretary Florencio Abad said on Thursday.
“We at least will have P130 billion moving forward,” Abad told reporters after attending a hearing of the Senate finance committee on two separate measures – one seeking to extend this year’s appropriations, savings, and unreleased funds for calamity-related projects until December 31, 2014 and a P14.6-billion supplemental budget for 2013 also for calamity fund.
The two measures were both approved by the Senate committee on finance, pending actions on similar measures at the House of Representatives.
But if the two proposals would get the approval of both chambers, Abad said, the government could raise at least P30 billion – P12 billion from the government’s savings this year and the P14.6 billion supplemental budget.
Another P20-billion calamity fund, he said, was included in the proposed 2014 national budget while the remaining P80 billion could be sourced from “unprogrammed fund” which the government expects to be covered by “concessional loans.”
“There is a commitment already from the ADB (Asian Development Bank), which committed $500 million and the World Bank which committed $900 million so the total of P66 billion…” Abad said.
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