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Malacañang to submit proposed 2015 budget to Congress after SONA

Malacañang on Saturday said the Executive department plans to submit the proposed a P2.606 trillion budget for 2015 to Congress on July 29.

Deputy Presidential spokesperson Abigail Valte said the Department of Budget and Management (DBM) only needs to fine-tune the National Expenditure Program in the next two weeks so it will be ready for submission a day after President Benigno S. Aquino III delivers his State of the Nation Address on July 28.

In an interview with government radio dzRB, Valte said the budget department proposed a P2.606 trillion budget for 2015 during Friday’s Cabinet meeting, which is 15 percent higher than the 2014 national budget.

Among the key expenditures of the 2015 national budget includes Social Protection and Social Services, Job Generation and Economic Expansion, Climate Change Adaptation and Mitigation, and Enabling Environment for Inclusive Development.Under social protection, the administration is increasing the budget for the conditional cash transfer program from P62.6 billion to P78 billion due to increase in coverage from 4.3 million households to 5 million households based on the National Household Targeting System.