Gov’s spending much better in Q2–Abad
Budget Secretary Florencio B. Abad on Thursday said the government had spent more on public goods and services during the second quarter to boost economic growth.
Also, Abad told reporters that the Cabinet-level, inter-agency Development Budget Coordination Committee (DBCC) was seeking the President’s approval for its proposal to institutionalize an “explicit” annual budget calendar that would compel agencies to follow rigid schedules and strict procedures.
According to Abad, spending levels between April and June were “much better” than in the first quarter.
Government expenditure from January to March amounted P504 billion, up by 4 percent year-on-year but still 13 percent lower than the P582.2-billion spending programmed for the period.
As of the end of April, disbursements grew by 5.5 percent to P660.6 billion, the latest Department of Budget and Management data showed.
On Wednesday, Economic Planning Secretary Arsenio M. Balisacan expressed hope that government spending would have picked up in the second quarter to compensate for the impact of slower exports on the economy.
Abad said the government had been working hard to address the issue of “slow” spending, as part of reforms aimed at ensuring fiscal transparency.
The International Monetary Fund’s recent Fiscal Transparency Evaluation report gave the Philippines “broadly favorable” marks, he noted.
Part of the fiscal reforms that the Aquino administration wants to put in place before the President’s term ends next year is a budget calendar that will set a timetable for the submission of proposals and technical reports by all government agencies, Abad said.
The Budget chief explained that the proposed budget calendar would prescribe certain periods of time for specific activities and phases of the budget cycle.
Abad said his department intended to start using the said calendar for the 2017 budget process, through an order to be issued by the President.
