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Verified Tsikot Member
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- Mar 2005
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July 27th, 2005 03:08 PM #1President Gloria Arroyo on Wednesday said the Palace will submit a proposed 2006 national budget of P1 trillion to Congress next month.
"The deadline is usually one month after Congress opens for session so that's August 25," the President said during a press conference in Malacañan.
She added that new taxes will fund the proposed budget. Congress earlier passed a P907-billion budget for 2005.
Congress opened its second regular session Monday.
Mrs. Arroyo explained that the Philippines' national budget system is different compared to the United States where vital government functions are halted once lawmakers fail to pass the proposed General Appropriations Act.
"The Philippines can reenact the previous budget unlike America," she said.
Before the President's State of the Nation Address (SONA) Monday, senators said they will prioritize the 2006 budget even if the House of Representatives preoccupies itself with the impeachment case against Mrs. Arroyo.
Senators Sergio Osmeña and Juan Flavier said they remain committed to enact a new budget next year.
Osmeña predicted that although Senate would be tied up in the impeachment case, they would still prioritize the budget once it is transmitted to them.
Sen. Joker Arroyo said earlier that he was concerned the country may again end up with no new budget next year due to the impeachment process and the proposal to amend the Constitution.
The president usually submits the proposed budget for the next fiscal year to the House of Representatives right after the SONA. Both houses of Congress have until December to pass the budget.
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Tsikot Member Rank 3
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- Nov 2002
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July 27th, 2005 03:15 PM #2wow 1 trillion??? san sya kukuha ng ganun kadaming pera??? considering that this yr's budget is 900+ billion e nagkadeficit pa sila, pano pa next yr??? for sure nga, more taxes, less services ang haharapin natin next yr. ano naman kaya breakdown nun? san na naman mapupunta ang majority? baka itataas nya ang prok barrel pangsuhol sa mga tongressman at matuloy ang kanyang mga plano. or sadyang bloated lang para hindi masyadong magkadeficit.
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July 27th, 2005 03:28 PM #3
budget lang naman eh...
i remember hirit ng boss namin dati about money sa company...
budget is just a figure, you can budget a million bucks for your salary, but no actual money will be there hehe.
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July 27th, 2005 03:32 PM #4Originally Posted by theveed
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July 27th, 2005 03:47 PM #5
i've read from one paper that more than 1/3 of the budget goes to servicing of debts (interests alone).............hirap talaga ng nakabaon sa utang
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Tsikoteer
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- Jun 2005
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July 27th, 2005 11:41 PM #7this is interesting but the problem is, where will they get funding?????
Yeah, sure 1 trillion Peso budget for next year BUT that's a small step for a country with big problems.
We face a 3.87 trillion peso (4 billion as estimate) gargantuan debt.
If we pay 1/3 a year for our debts, this means that we spend 500 BILLION PESOS A YEAR just to service our debts.
If the momentum is at least kept, then that would mean:
-It would take every two years to reduce the debt by 1 trillion.
-Four years (2009-2010) til our budget reaches halfway or 2 Trillion pesos
-A total of EIGHT years of waiting til our total debts disappear for good.
UNLESS the momentum of debt reduction is improved, it will be only until 2014 that the Philippines will be debt-free.
God, help us.
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July 28th, 2005 10:51 AM #8
hindi na liliit ang utang natin, interests nga lang naghihirap na tayong bayaran, principal pa?
saka hindi na ba kukuha ang gobyerno ng additional loans from this day on? i doubt
pag ganyan pa nangyayari sa p*********g politics and economy ng pinas hindi malayong bumaba ng bumaba ang peso natin, yung 3.87 trillion pesosesosesoses eh maging 4 or 5 trillion.........me utang na rin pati magiging apo ko sa kabila pa ng talampakan......hanggang sa swelas ng sapatos ko uukit pa yun :bwahaha:
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Tsikot Member Rank 3
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- Oct 2002
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July 28th, 2005 12:38 PM #9tapos yung winaldas ni abalos sa election computerization na more than P1.4B eh baliwala nalang at TY nalang. yung mga artista kunwari sinisilip eh barya lang yon sa tinapon (tinapon nga ba or somevbody pocted it?) ni abalos. and he still holds the comelec chairmanship up to now.
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July 28th, 2005 01:16 PM #10
1 trillion napapanahon na, sa computers terabytes na din pinaguusapan hehehe
^ geo yatta of bulacan, ang nagcause ng traffic sa NLEX eh hinid minimum wage earners. Mga...
Traffic!