Rizal Hall, Malacañang
23 December 2014
President Benigno S. Aquino III led the signing of the P2.606-trillion General Appropriations Act (GAA) of 2015 at the Malacañan Palace.
This year’s budget increased by 15.1% from the 2014 budget amounting to P2.265 trillion for the purpose of supporting advance economic growth. For the Fiscal Year 2015, the Department of Education (DepEd) got the highest share on the budget with P364.9 billion, followed by the Department of Public Works and Highways (DPWH) with a budget of P300.5 billion.
In his speech, President Aquino called the GAA “Budget ng Bayan” since it prioritizes the welfare of Filipinos, especially the poorest and the most vulnerable localities according to their primary needs. It also increased investments in projects to support sustained development like: Social Protection; Job Creation and Economic Growth; Climate Change Adaptation and Mitigation; and Enabling Environment for Inclusive Development.
He complemented Department of Budget and Management Secretary Florencio “Butch” Abad, Senate President Franklin Drilon, House of Representatives Speaker Feliciano “Sonny” Belmonte, Senate Finance Committee Chairman Francis Chiz Escudero and House Appropriations Committee Chairman Sid Ungab for their dedication and good performance to pass the GAA 2015 on time.
“Ngayong malayo na tayo sa ating dinatnan; ngayong sa tuwid na landas ay nagagawa na nating panghawakan ang sariling tadhana, nawa’y higit pa tayong magtulungan at magbigayan ng lakas upang tuluyan nang maging normal ang tinatamasa ngayong pagbabago ng Pilipinas,” the President said.
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