Cabinet approves P3.757 trillion budget for 2019


Posted at Jul 10 2018 11:43 AM | Updated as of Jul 10 2018 12:18 PM

MANILA -- (UPDATE) President Rodrigo Duterte's Cabinet has approved the P3.757 trillion budget for 2019, his spokesman said Tuesday.

Duterte's economic managers had in the past submitted their proposed national budget on the day of his state of the nation address or SONA, which falls on July 23 this year.

The president approved the 2019 budget during a Cabinet meeting on Monday, Presidential Spokesperson Harry Roque said.

Roque said personnel services will get P1.185 billion, followed by maintenance expenditures with P562.9 billion; and capital outlay with P752.7 billion.

The proposed budget will also give P640.6 billionto local government units, P187.1 billion support to government-owned and controlled corporations, P14.5 billion for tax expenditures, and P14.1 billion for debt servicing.

The economy is unaffected by talk over President Rodrigo Duterte's war on drugs, Budget Secretary Benjamin Diokno told ANC's Headstart.

The economic team is "changing the conversation" towards the President's infrastructure program, with its showcases for investors abroad, Diokno said.

"The best way to feel what's happening in the Philippines is to come to the Philippines," the budget chief said.