Aquino submitting P1.8 trillion budget

President Aquino will send Tuesday to Congress a proposed P1.816-trillion budget for 2012 that aims to scale up spending on social services and reduce the budget deficit.

The President Monday finalized his “budget message” in a Cabinet meeting in Malacañang before delivering his second State-of-the-Nation Address (SoNA) before a joint session of Congress.

The proposed budget, higher by P171 billion compared to this year’s P1.645- trillion outlay, is considered a results-oriented budget with education, public health care, and other social services getting the lion’s share.

Budget Secretary Florencio Abad said this will be the first time the President will submit the budget proposal a day after SoNA in more than a decade.

The last time a proposed budget was submitted a day after the SoNA was on July 27, 1999, after former President Joseph Estrada’s second SoNA on July 26 that year.

The past administration submitted its budget proposals a few days before the deadline and often had to operate on reenacted budgets.

Read more at Manila Bulletin

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