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2012 National Budget of the Philippines

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2012 National Budget of the Philippines

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  • Feb. 14, 2012
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2012 National Budget

— President Benigno S. Aquino III on Thursday signed the P1.816-trillion 2012 national budget into law, the earliest budget signing since 1986. Republic Act (RA) No. 10155, “Act of Appropriating Funds for the Operations of the Government of the Republic of the Philippines for January 1 to December 31, 2012 and for Other Purposes,” would enable the government to use the national budget for its projects and programs as early as January, 2012. The Social Services sector will receive P568.6-billion or 31.3 percent of the total budget. The Social Services sector, which provides benefits and facilities such as education, food subsidies, health care, and subsidized housing, will receive P568.6 billion or 31.3 percent of the total budget. This include the Conditional Cash Transfer (CCT) program of the Department of Social Welfare and Development (DSWD). Per department, the Department of Education (DepEd) got the biggest slice of the budget at P238.8 billion that would include allocation for the hiring of 13,000 new school teachers and construction and refurbishing of more than 43,000 classrooms. The 2012 budget for education is 15.2 percent higher than last year’s P207.3 billion. Next is the Department of Public Works and Highways (DPWH), P125.7 billion; Department of National Defense (DND), P108.1 billion; Department of the Interior and Local Government (DILG), at P99.8 billion; and the Department of Agriculture (DA), P53.3-billion. Aquino said P140 billion worth of infrastructure projects will be implemented in January next year, adding that projects under the 2011 will still be fast-tracked. President Aquino thanked members of the legislature and government agencies, citing in particular the Department of Budget and Management (DBM), for working hand-in-hand for the early signing of the 2012 national budget. He also noted that the Executive branch submitted its proposed 2012 national budget a day after his State-of-the-Nation Address (SoNA) in...