PRESIDENT Rodigo Duterte may opt to affix his signature seen to ensure that the government has ample funds for the coming year as Malacañang confirmed receiving a copy of the proposed ₱4.5 trillion 2021 national budget from Congress.
In a statement, presidential spokesperson Harry Roque hinted that the President will sign the proposed General Appropriations Act before Christmas.
Congress ratified the budget bill last week after months of deliberation. Duterte had to call for a special session of Congress and certify the bill as urgent in October due to the House leadership squabble which was eventually resolved by the election of House Speaker Lord Allan Velasco.
The national spending plan for next year includes funds for COVID-19 pandemic response and recovery, including subsidies to ailing industries and vaccine purchases.
₱72.5 billion will be used to secure coronavirus vaccines, ₱70 billion of which will be supported either by loans or from excess revenue collections.
It also provides ₱1.1 trillion for infrastructure projects, which are touted to create jobs and boost economic activity after a recession year.
Education will receive the biggest allocation with ₱708.2 billion, followed by Public Works with ₱694.8 billion. Health-related spending is given ₱287.5 billion, according to the office of Senate Finance Committee chairman Sonny Angara.