Aquino signs 2011 national budget into law
President Benigno S. Aquino III on Monday signed into law Republic Act 10147, the P1.645-trillion General Appropriations Act for 2011 which is actually his first financial blueprint that will enable the national government to address the urgent needs of the marginalized sector of society.
In a speech after the signing at Malacanang’s Rizal Hall, the Chief Executive said this is the first time in 11 years that the national budget was signed on time.
Of the total budget, the social services sector got the lion's share at 34.1 percent, a 16.8 percent hike from its 2010 budget, the highest increase among all sectors. It includes a P21-billion allocation for the conditional cash transfer program and P1.2 billion in unaudited intelligence funds.
"Congress has ratified the General Appropriations Act for 2011. By so doing, it has made possible my signing the national budget today. This will be the first time in 11 years that the budget will be signed into law on the same year that it was submitted," the President said.
The President noted that the House of Representatives and the Senate “have proven that both chambers of Congress are indeed serious about the primary duty of the legislature.”
"The budget is the most important act of any Congress. Its early passage means that the much-needed programs for poverty alleviation and development can be implemented earlier," he stressed.
The President pointed out that the early signing of the budget "will enable us to address the urgent needs of our people in a timely manner. Such needs include building more rural health units and providing immunization for children. This also allows us to construct new classrooms and hire new teachers, as promised to the Filipino people."
Present during the budget signing ceremony were Senate President Juan Ponce Enrile, House Speaker Feliciano Belmonte Jr., Congress committee leaders and members of the Cabinet.
Meanwhile, Budget and Management Secretary Florencio “Butch” Abad said the signing of the GAA for 2011 is the first budget with transparency and accountability provisions integrated under the zero-based budgeting (ZBB) approach.
Under the ZBB approach, the government, according to Abad should reduce or terminate funding for projects or programs which are ineffective, inefficient or fraught with leakages, and to expand funding for those which are well performing and are critical for development.
“These general and special provisions require us to disclose key information on budgetary appropriations and releases using new information technology. This administration has nothing to hide from the people,” he said.
Aside from social services, the sectors that got an increase in the 2011 budget were the following:
- P110 million for the maintenance and operating expenses of 80 state universities and colleges (SUC);
- P8 million in the budget of the Office of the Vice President;
- P200 million in subsidies for local government units;
- P590 million in the budget of the House of Representatives; and
- P345 million in the budget of the Senate. (PCOO)
Ceasefire clash won't deter gov't from pushing peace with reds -- Aquino
Although disappointed over a recent ceasefire violation incident, President Benigno S. Aquino III said today his administration remains committed to achieving lasting peace with the communist rebels through dialogue.
“At the very least, the government will demonstrate its sincerity in trying to achieve peace through dialogue rather than violence. We will do what we have to do,” the President said in reaction to the reported clash between the New Peoples Army, the armed wing of the National Democratic Front (NDF), and government soldiers facilitating the surrender of rebel Christian Corpuz Bascos, at Barangay Bayotbot in San Jose, Occidental Mindoro.
In an ambush interview right after he signed into law the 2011 national budget at Malacanang this morning, the President admitted that he was disappointed over the incident.
He noted that he already ordered the Armed Forces of the Philippines and the Philippine National Police to remain vigilant in maintaining peace and order in their areas of responsibilities.
The Occidental Mindoro incident was the first ceasefire violation since the truce began last Dec. 16. Another violation was recorded in Samar two-days before the implementation of the 19-day suspension of military operations. (PCOO)
Investor confidence improves employment figures -- Aquino
Renewed confidence in the Philippine business climate has improved employment and reduced unemployment and underemployment figures in 2010.
In a media interview after signing the 2011 national budget in Malacanang, President Benigno S. Aquino III considers jobs creation and unemployment reduction as the biggest achievement in the first six months of his administration.
When he assumed the presidency, the President said he met local and foreign investors who have renewed their enthusiasm and optimism in the Philippines particularly in the booming business process outsourcing (BPO) industry.
“Our slogan that the Philippines is now open again for business seems to have taken hold. Business processing outsourcing companies have already started and they have been actually doing recruitment that has made some impact on both the employment and underemployment figures,” the President said.
“Everybody that I talked to both local and foreign talked to me about the renewed and enthusiastic and optimistic way they look at the Philippines, he added.
For the full-year 2010, the National Economic Development Authority (NEDA) has reported that employment figures generally improved as job creation reached 983,000; unemployment rate was lower at 7.3 percent compared to 7.5 percent in 2009; and underemployment rate improved to 18.7 percent from the 19.1 percent of last year.
NEDA Secretary General Cayetano Paderanga said that the continued improvement in the level of confidence for the Philippines and the implementation of necessary reforms would greatly contribute to the creation of more decent and quality employment for Filipinos for the years to come.
Given the strong turnout in the first three quarters of the year, Paderanga said NEDA expects the full year Gross Domestic Product (GDP) growth to likely surpass the 5-6 percent target for 2010 to 7-8 percent this year.
For 2011, Paderanga said the country expects a more modest growth with the absence of election spending and the still quite fragile global economic recovery.
However, Paderanga said the right policies and continued confidence are expected to help achieve the government interagency Development Budget Coordination Committee’s real GDP growth target of 7 to 8 percent and a real GNP growth target of 9 to 10 percent.
“With the Aquino Administration focusing on improving the lives of Filipinos, we are aiming for high sustained growth. The targets that have been set will sharply reduce poverty incidence and increase per capita income,” Paderanga said. (PCOO)
