Are road maps necessary to achieve growth? The Department of Budget and Management (DBM) appears to think so. The DBM has initially turned down the Department of Agriculture’s (DA) budget proposal of a 48-percent increase from P65 billion in 2013 to P96 billion in 2014. Instead, the DBM has recommended a 26-percent decrease to P48 billion… unless the DA submits road maps. But are road maps really necessary for agriculture growth?
The government is spending P29 billion—P12 billion this year and P17 billion in 2014—on a tourism infrastructure program that will connect tourist spots to major roadways.
The US Federal Aviation Administration ordered the shutdown of air-traffic control towers at 149 small airports due to budget constraints after the implementation of the “sequester” spending cuts.
The Department of Budget and Management released P1.59 billion to boost flood-control measures in Metro Manila, particularly for the rehabilitation of 12 water pumping stations in the metropolis.
Asian stock markets rose Tuesday as investors registered approval for China’s spending priorities announced at its annual congress.
The Department of Energy has allocated P5.4 billion this year for projects that will provide electricity to all sitios (subvillages) and households, particularly those in far-flung areas in the country.
The US government budget showed a surplus in January for the first time since September as the overall budget deficit trended lower, Treasury Department data released Tuesday showed.
The Philippines is leaving no stone unturned in its quest for rare earth elements, or REE—a major component of electronic products.
FUNDS for key infrastructure projects and social services under the 2013 national budget are expected to be released as early as Jan. 2 after Congress’ bicameral committee approved last Wednesday the P2-trillion budget for next year.
State-owned National Power Corp. (Napocor) said it would need as much as P18 billion in subsidies for 2013, mostly to fund the operations of its small power utilities group (SPUG) to ensure stable power supply in the so-called “off-grid” areas.
Greece enters the final stretch on a tough new round of austerity cuts with the return of creditor auditors this week after a breakthrough in arduous talks between its political leaders.
The government is set to replace the Legazpi Airport in Albay as the Bicol region’s major hub with a new international airport capable of accommodating more passengers to cater to the area’s growing needs.
