Friday, December 20, 2013
Php 2.265 Trillion 2014 Budget Signed and Approved by PNoy
Pres. Aquino III beams together with VP Binay and Speaker Belmonte Jr. after he signed into law R.A. No. 10633 the Php 2.265 Trillion General Appropriations Act (GAA) for Fiscal year 2014. Others witnessing the ceremony are Rep. Quimbo, Rep. Quisimbing, Rep. Balindong, Rep. Banal, Rep. Angping and Rep. Sarmiento. The 2014 National Budget is also the country's 1st Performance Informed Budget a landmark reform initiative that ties an agency's overall budget to specific standards of performance and service delivery. Social Services continue to have the biggest allocation of the National Budget at 37.2% or Php 841.8 Billion. Social Services include the Conditional Cash Transfer (CCT) program, which will have Php 62.6 Billion for 2014, including the allocation of Php 12.3 Billion for 10.2 Million youth aged 15 to 18 yrs. old in a bid to help them finish high school and have a decent livelihood.
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