President Benigno Aquino 3rd has approved next year’s proposed P2.268-trillion national budget, a Palace official said on Thursday.
Strategic Communications Secretary Ramon Carandang said the proposed budget aims to spur inclusive growth and create jobs.
”We are enhancing social protections and creating opportunities for employment by focusing on job generating sectors like manufacturing, tourism, infrastructure, and agriculture, among others,” Carandang said.
He said President Aquino closely scrutinized the budget “because he wants to make sure that taxpayers’ money is being spent properly and efficiently.”
”This kind of scrutiny and attention is what has allowed us to increase spending without raising taxes and even enhance our fiscal space and earn us those credit rating upgrades,” Carandang added.
Aquino admitted that they finished scrutinizing the budget at about midnight on Wednesday.
”I have been busy finalizing the national budget, where we are laying out the priorities for next year, and even beyond. Every line must be thoroughly scrutinized before the entire document is submitted to Congress,” the President said.
The Department of Budget and Management hopes to have the 2014 budget signed into law by yearend.