SOURCE: Press and Public Affairs Bureau
24 July 2012 04:37:30 PM
Speaker Feliciano Belmonte, Jr. with Majority Leader Neptali Gonzales II, Minority Leader Danilo Suarez and House Appropriations Chairman Joseph Emilio Abaya, among others, accepts from Department of Budget and Management Secretary Florencio Abad President Benigno S. Aquino III's copies of the proposed P2.006-trillion "Empowerment Budget" that spells out the national government's 2013 expenditure program "to build on gains and shore up growth." Abad said the proposed budget, which is 10.5% or P190-billion higher than the current year's budget, "reinforces the Administration's commitment to fulfill the Aquino Social Contract with the Filipino people and seeks to drive up stronger economic growth in the next fiscal year." The proposed fiscal outlay is based on a higher growth assumption of 6.0-7.0 percent, Abad revealed.