Palace expects budget approval before yearend

MALACAÑANG on Thursday, August 30, expressed hope about the "timely" passage of the proposed 2019 budget after the Department of Budget and Management (DBM) and Congress agreed on a "transitory cash-based system" for next year.

Presidential Spokesperson Harry Roque Jr. was optimistic that President Rodrigo Duterte would sign the proposed 2019 budget of P3.757 trillion before the end of 2018.

"Per the Department of Budget and Management, they, together with Congress, have agreed to a transitory cash-based system," Roque said in a statement .

"Having said this, we expect the national budget to be passed on time and signed by the President before the end of the year," he added.

The current administration is mulling a cashbased national budget of P3.757 trillion in 2019, slightly lower than the current obligations-based appropriation of P3.767 trillion.

The House appropriations panel earlier suspended the budget deliberations and would only resume the hearing, if "necessary changes" on the proposed 2019 budget were made.

Budget Secretary Benjamin Diokno, along with Finance Seretary Carlos Dominguez, met Tuesday, August 29, with House Majority Leader Rolando Andaya Jr. and House Appropriation

Committee chair Karlo Alexei Nograles to settle the lawmakers' objection to the proposed cash-based budgeting system for 2019.

Under a cash-based budgeting, all government agencies are required to spend their approved budgets within the fiscal year.

In an obligation-based budgeting system, budget spending can be done within a two-year period.

On Wednesday, August 29, Diokno said the Budget department and the House of Representatives resolved the issue on the proposed budget for next year by agreeing on a "transitory cash-based system."

Roque explained that under this budgeting system, the government would be given 12 months to obligate and 18 months to disburse its budget.

"The DBM shall be disclosing the full details of this transitory cash-based system in due time," the Palace official said. (SunStar Philippines)