Signing of the FY 2012 General Appropriations Act (News Mats) 12/15/2011

Rizal Hall, Malacañan Palace 15 December 2011 President Benigno S. Aquino III said that his administration will spend every peso of the national budget for the Filipino people, especially for the poor, during the signing of Republic Act 10155 or the General Appropriations Act of 2012. Through the zero-based budgeting system, the President said that the national funds were properly allocated to priority programs and projects of the government. The social services sector was given a total of 568.6 billion pesos where P39.5 billion is for the conditional cash transfer program; P238.8 billion for the improvement of the basic and higher education system; and P44.4 billion for the development of health services and facilities. The Department of Public Works and Highways and the Department of Agriculture were apportioned with P255.2 and P53.3 billion, respectively. To assure that benefits from the budget will be hastily provided, President Aquino ordered his Economic Development Cluster of the Cabinet to create an awarding system for agencies that will speedily execute programs and projects while punish offices that are slow-implementing and costly. The Chief Executive was joined by Vice President Jejomar Binay, Executive Secretary Paquito Ochoa Jr., Senate President Juan Ponce Enrile, Sen. Franklin Drilon (Committee on Finance Chairman), Budget and Management Secretary Florencio Abad, Rep. Feliciano Belmonte, Rep. Joseph Emiliano Abaya (Committee on Appropriations Chairman ...

View Count: 2 Date: December 15, 2011