Noy to submit P3-T 2016 budget to Congress today

President Aquino submits today his proposed P3-trillion 2016 national budget to Congress, a day after his sixth and last State of the Nation Address (SONA).

“Yes, budget submission is set for tomorrow, 3 p.m.,” Davao City Rep. Isidro Ungab, who chairs the appropriations committee of the House of Representatives, said yesterday in a text message.

He said the President would present his budget proposal for next year through Budget Secretary Florencio Abad.

“He has always promptly presented his spending proposal after his SONA, giving us enough time to consider and approve it before the end of the year,” he said.

He added that his committee would start hearings on the budget on Aug. 10.

Abad will submit copies of the 2016 budget and other accompanying documents to Speaker Feliciano Belmonte Jr., Ungab, members of his committee and other House leaders. He will also send copies to the Senate.

Under the Constitution, it is the House of Representatives that has primary jurisdiction over the annual budget.

The P3-trillion budget, titled, “Paggugol na Matuwid: Saligan sa Tuloy-tuloy na Pag-unlad (Right spending, foundation of steady progress),” is Aquino’s sixth and last spending proposal.

Abad said the 2016 budget “consolidates all the reforms started in 2010 and sets a firm foundation for the continuity of reforms beyond this administration.”

“The fiscal position for FY (fiscal year) 2016 will translate to an obligation budget ceiling of P3 trillion, up by P394 billion or 15.1 percent more than the FY 2015 budget of P2.606 trillion,” he said.

Of the P3-trillion outlay, he said 80 percent or P2.419 trillion would “be eaten up by the forward estimates or the cost of ongoing programs and projects.”

“This leaves funds available for expanded and new programs and projects of P580.9 billion, nearly one-fifth of the proposed budget ceiling. This additional fiscal space will be directed towards addressing critical funding gaps in various sectors,” he added.

Abad pointed out that the government expects to collect revenues amounting to P2.697 trillion, 18.5 percent more than estimated total collections this year.

He stressed that public spending would continue to aim to focus on good governance and anti-corruption, ensuring inclusive growth, sustaining the growth momentum, managing disaster risks and forging just and lasting peace.

The Department of Education will get the biggest slice of the proposed 2016 budget with P436.5 billion, followed by the Department of Public Works and Highways with P401.140 billion, Department of National Defense (P172 billion), Department of the Interior and Local Government (P156 billion), Department of Health (P128.5 billion) and Department of Social Welfare and Development (P107.6 billion).