Cayetano on budget: 95% reconciled

MANILA, Philippines — The bicameral conference committee on the budget is almost done with drafting the final version of the proposed P4.1-trillion spending program for next year, Speaker Alan Peter Cayetano said yesterday.

“It’s 90-95 percent reconciled,” he said in a social media post, quoting the panel’s co-chairmen, Davao City Rep. Isidro Ungab, who heads the committee on appropriations of the House of Representatives, and his Senate counterpart Sonny Angara.

“Unfortunately, the remaining 5-10 percent can be the killer,” Cayetano said.

However, he said he hoped that Ungab and Angara and their respective staffs could finish their job today.

The budget conferees, who are scheduled to meet today to sign the report of their chairmen, reset yet again their meeting for tomorrow morning. They were originally scheduled to convene yesterday.

Cayetano assured the nation that a new budget would be enacted before the end of the year.

Other House leaders said the country could not afford another delay in the enactment of the spending program.

Deputy Speaker Mikee Romero of 1-Pacman, who is an economist, said the delay in the final approval of this year’s budget “really took its toll on the economy, which lost at least P500 billion a month.”

“As a result, economic growth slowed down in the first two quarters before recovering in the third quarter. We should sustain such recovery by enacting the proposed budget for next year before yearend,” he said.

President Duterte signed the 2019 outlay in April after vetoing or deleting P95-billion worth of pork barrel fund realignments made by the House.

Romero said the January-to-March delay actually extended to at least six months due to the tedious process of releasing funds and obligating them.

“It is longer if we include the time needed for procurement of goods and services. We want to avoid all of that next year,” he said.

The House and the Senate are aiming to send the proposed 2020 budget to President Duterte before Dec. 21.