2021 Budget Breakdown Philippines

According to the report next year s budget is 9 9 higher compared to 2020 s p4 1 trillion budget.

2021 budget breakdown philippines. Philippines plans record s 119 billion 2021 budget for post pandemic recovery the philippines is projected to suffer a 2 to 3 4 per cent decline in gdp this year. The philippines lower parliamentary house on friday approved the 2021 budget after a leadership row nearly derailed debates on the spending plan aimed at helping the economy recover from the coronavirus pandemic. Metro manila cnn philippines october 16 the house of representatives has passed on third and final reading the proposed 4 5 trillion national budget for 2021.

The national budget for 2021 will be president rodrigo duterte s most critical and most political one. The latest national expenditure program nep is 9 9 percent higher than the 2020 budget and 21 8 percent of the country s philippine gross domestic product gdp. It will sustain and strengthen.

He php4 506 trillion proposed cash budget for fiscal year 2021 will focus on containing the spread and mitigating the effects of the virus while restarting the economy to help the nation reset rebound and recover from the crisis. The record 4 5 trillion pesos 92 5 billion budget bill approved by 257 lawmakers with six voting against now passes to the senate for further hearings. Philippines parliament approves 92 5 billion budget for 2021 coronavirus recovery.

It is equivalent to 21 8 of the gross domestic product. Budget secretary wendel avisado said the proposed national budget for 2021 is at p4 506 trillion which is 9 9 percent higher than the 2020 budget and is 21 8 percent of the gross domestic product. The department of budget and management dbm on tuesday submitted to congress the proposed p4 506 trillion spending program for 2021.

Includes php71 4 billion budget for the philippine health insurance.