House approves 2015 budget on 2nd reading

MANILA, Philippines - The House of Representatives on Friday night approved on second reading the government's P2.606-trillion budget for 2015, two weeks after plenary deliberations.

"This brings us closer to ensuring the enactment of the 2015 budget law before the end of the current fiscal year so that the dangers of a re-enacted budget will not deprive our people of the services they need," House Speaker Feliciano Belmonte Jr. said.

Belmonte thanked the chair of the Committee on Appropriations, Rep. Isidro Ungab (3rd District, Davao City), the panel vice chairpersons and its members for their work on passing the budget, which is 15.1 percent higher than the P2.265 trillion alloted for this year. The government said the budget is in line with the state's growth assumption of 7 to 8 percent for the next year.

The Department of Education got the lion's share of the budget at P364.958 billion, followed by the Department of Public Works and Highways at P300.519 billion. The Department of National Defense got P144.036 billion; Department of Interior and Local Government at P141.423 billion; Department of Social Welfare and Development at P108.97 billion; Department of Health at P102.178 billion; Department of Agriculture at P88.818 billion; Department of Transportation and Communications at P59.463 billion; Department of Environment and Natural Resources at P21.290 billion; and the judiciary at P20.285 billion.

The Committee on Appropriations' report on the budget bill, also known as House Bill 4968, said tax revenues of P2.194 trillion will account for 93.9 percent of the total revenue inflow and 6 percent or P141 billion will come from non-tax sources. Moreover, 0.1 percent or P2 billion is expected from privatization proceeds.

"I welcome the resurgence of the legislative will for budget oversight that we have seen in action these past months. It is a sign that we are strengthening our institutional muscle to make this government work better, and to ensure that public resources are allocated more effectively for the welfare of our people," Belmonte said.