20 December 2013

President Benigno S. Aquino III led the signing of the P2.265 trillion General Appropriations Act (GAA) for 2014 in Malacañang.

The budget is 13 percent higher than the 2013 GAA. Its key features focuses on more resources for calamity reconstruction and the abolition of the Priority Development Assistance Fund (PDAF).  It also installs reforms such as the performance informed budget where it clearly links budgetary allocations and performance targets, the grassroots participatory budgeting and GAA as a release document where on the first business day of the fiscal year, about 90 percent of the 2014 budget is considered released to departments and agencies.

In his speech, the President thanked the Congress led by Senate President Franklin Drilon and House of Representatives Speaker Sonny Belmonte together with Senate Finance Committee Francis Chiz Escudero and House Appropriations Committee Chairman Sid Ungab for an honest and responsible performance during the process of budget allocating.

“Lahat po ng ito ay nagsasabuhay ng ating panata sa mamamayan: kung walang corrupt, walang mahirap. Hindi nagtatapos sa pag-abolish sa PDAF ang ating reporma sa gobyerno. Binuo natin ang Pambansang Budget para sa taong 2014 upang paigtingin ang transpormasyon ng pamamahala sa kaban ng bayan,” the President said.

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