A.P Report

Topics: Philippines, Names of large numbers, Million Pages: 8 (2679 words) Published: December 6, 2012
2012 National Budget
By sector
For 2012, social services will receive 31.7 percent of the national budget, which is almost one-third of the proposed amount. It has the same share as last year but is equivalent to P575.8 billion, compared to P521.4 billion this year. The sector’s share is higher than this year’s budget by 10.4 percent. Under this sector is the Pantawid Pamilyang Pilipino Program (4Ps), the cornerstone of the Aquino government’s poverty reduction agenda. The 4Ps, which includes the conditional cash transfer (CCT) is set to benefit three million households by January next year compared to 2.3 million households this year. The social services sector is followed by economic services, with P438.9 billion or an increase of 22.0 percent. The government has address critical constraint to growth such as macroeconomic and fiscal instability. The goal is to narrow the fiscal deficit to P286.0 billion or 2.6 percent of gross domestic product (GDP), from this year’s target of P300.0 billion or 3.0 percent of GDP. Thus it is imperative to focus spending on infrastructure, agricultural and industrial support services, and vocational and tertiary education curricula. Debt service interest payment, which is the sum of loan repayments, interest payment commitment fees and other charges on foreign and domestic borrowings, comes at P333.1 billion (18.3%); general public services, P332.1 billion (18.3 percent); and defense, P113.1 billion (6.2 percent). As a share of the budget, the debt burden is three percentage points lower than this year. -------------------------------------------------

By expense class
Expenses are made of capital outlays, current operating expenses, maintenance and other operating expenses, and personal services, among workers. Capital outlays
Refers to appropriations for the purchase of goods and services, the benefits of which extend beyond the fiscal year and which add to the assets of the government, including investments in the capital stock of Government Owned and Controlled Corporations (GOCC) and their subsidiaries. Capital outlays will be provided some P328.6 billion, 25.4 percent higher for 2012 than 2011’s P262.0 billion. Of the said amount, 77.7 percent or P255.2 billion is for infrastructure and other capital outlays. The allocation for infrastructure and capital outlays will increase by 33.1 percent from its current level of P191.7 billion. The infrastructure program amounts to P182.2 billion, 25.6 percent higher than 2011’s. It represents 1.6 percent of GDP, higher compared to 2011’s 1.4 percent. Current operating expenditures refer to the amount budgeted for the purchase of goods and services for the conduct of normal government operations within a budget year. They include goods and services that will be used or consumed during the budget year. For 2012, current operating expenditures will get P1.464 trillion, 7 percent higher than 2011’s allocation of P1.368 trillion. Of which, P268.1 billion will be set aside for maintenance and other operating expenditures (MOOE); while P593.3 billion will be for personal services. -------------------------------------------------

By recipient entity
Allocations to Local Government Units are set to receive P291.6 billion. Of the said amount, internal revenue allotment amounts to P273.3 billion. Allocation to GOCCs will amount to P20.2 billion, an increase of 87.8 percent, from P10.8 billion in 2011 to provide larger support for the rice self-sufficiency related undertakings, for electrification and for housing. Top departments

The top five recipients of the 2012 budget are the Department of Education (DepEd), Department of Public Works and Highways (DPWH), Department of National Defense (DND), Department of the Interior and Local Government (DILG) and Department of Agriculture (DA). DepEd will continue to get the biggest allocation of P238.8...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Recommendation Report Essay
  • Report Writing Essay
  • How do I write a report Essay
  • Essay on incident report
  • Essay about Impormal Report
  • Format of Report Essay
  • Business Report Essay
  • Essay about Siwes Report

Become a StudyMode Member

Sign Up - It's Free