House Plenary starts debate on P2.

606-trillion 2015 GAA

The House of Representatives started on Monday morning its plenary scrutiny of the
proposed 2015 P2.606trillion !eneral "ppropriations "ct contained in H# $%6&.
House "ppropriations 'ommittee 'hairman( Hon. )sidro T. *nga+( is leading the plenary
sponsorship of the 'ommitteeapproved +udget +ill ,hich em+odies the chec-list of e.penditures
for the /iscal 0ear 2015.
12u+3ect only to the limitations prescri+ed +y the 'onstitution( the House of
Representatives in the e.ercise of its legislative duty is free to act on this /0 2015 national
+udget(4 chairman *nga+ declared( signalling an open and free de+ate on the spending provisions
contained in the +ill.
*nga+ stressed that the proposed !"" 1is crafted on the premise that no one( especially
the poor and vulnera+le( should +e left +ehind.4
He added that the spending +ill fulfils the mandate of providing the people the relief from
poverty through the allocation of more funds for infrastructure development and social services
,hich translates to +etter 5uality of education( more 3o+s( food( healthcare( medicine( housing
and +asic human needs.
6i-e,ise( *nga+ said that( through the !""( the country ,ould continue its path to
gro,th ,hich has +een the focus of policy and the program thrust of the Medium Term
Philippine 7evelopment Plan.
"t the start of plenary interpellation( #ayan Muna Partylist Rep. 8eri 'olmenares
provided a glimpse of points of contentions that may come to focus in the days to come as he
enumerated several points of pu+lic concerns that range from de+t payments relative to revenue
generation and pu+lic e.penditures as reflected in the proposed 2015 P2.606 Trillion !""( and
the definition of savings and ho, the President can declare an appropriation as savings.
1These are issues( among others( ,hich ,e ,ill continue to raise in the course of our
deli+erations in our 5uest for transparency and pu+lic accounta+ility in the use of pu+lic funds(4
'olmenares stressed.
*nga+ noted in H#$%6& that the proposed spending +ill is crafted and formulated +ased
on the President9s +udget ,hich is supported ,ith documents consisting of the #udget of
:.penditures and sources of /inancing ;#:2P<( a 8ational :.penditure Program ;8:P<
comprising of four volumes( the President9s #udget Message and other documents( in compliance
,ith the President9s constitutional duty under the constitution.
1"s the President is committed to pursue greater transparency and accounta+ility in pu+lic
fund management( the government continues to face challenges in the remaining t,o years of his
social contract ,ith the /ilipino people(4 *nga+ added.
NR # 3590C
SEPT. 15, 2014
*nga+ said that the proposed !"" is formulated +ased on the follo,ing fiscal program=
1< Total revenue pro3ection in 2015 of P2.>>?trillion ,hich translates to 16.5 percent of !7P
and higher +y 15.& percent from the 201$ revenue program of P2.10& trillion@ 2< 'onsolidated
Pu+lic 2ector 7e+t of P155.1%? +illion e5uivalent to 1.1 percent of !7P@
>< 8ational government +udget deficit of P2&>.6&? +illion or 2.0 percent of !7P( ,hich is
no, in line ,ith the medium term fiscal program. The medium term goal is to achieve a fiscal
deficit of 2.0 percent of !7P +y 2016@ $< Autstanding 8ational !overnment de+t of P6.5 trillion
+y the end of 2015 or a de+t to !7P ratio of $5.6 percent( compared to the P5.% trillion +y the
end of 2011 or a de+t to !7P ratio of $6.1 percent.
The 2015 !"" of P2.606trillion is 15.1 percent or P>$1.$ +illion more than the 201$
level of P2.265 trillion. Af the total !"" fund( the ne, general appropriations ,hich 'ongress
,ill authoriBe is P1.&6> trillion( consisting of P1.?$0 trillion of Programmed 8e, "ppropriations
and P12>.0 +illion of *nprogrammed "ppropriations as stand+y fund should revenues e.ceed
targets or ne, loans +e secured to support the proposed +udget.
He added that the programmed ne, appropriations of P1.?$0 trillion( together ,ith the
P&66 +illion of automatic appropriations( ,hich is outside the purvie, of the !"" +ill( ,ill
provide for the appropriation cover for the P2.606 trillion +udget.
*nga+ revealed that in 2015( the government ,ill +orro, a+out P?00.& +illion( consistent
,ith the medium term goal of reducing de+t stoc-( particularly e.ternal de+t. Af said amount(
P>&>.? +illion ,ill +e to plug the pro3ected fiscal deficit( P>%0.$ +illion to amortiBe the principal
of outstanding de+t and P26.? +illion for the national government9s cash +uffer account.
/urthermore( *nga+ noted that of the P?00.& +illion +orro,ing programs in 2015( the
government ,ill raise &6 percent or P605.1 +illion from the domestic mar-et( ,hile the
remaining P%5.? +illion or 1$ percent of the total +orro,ing program ,ill +e from e.ternal
sources through concessional loans from development partners and commercial +orro,ings from
the glo+al capital mar-ets.
)n the matter of sectoral allocations( among others( the 2ocial 2ervices sector continues to
get the largest share ,ith P%6?.&52 +illion or >?.1$ percent of the total !"".
The first day of plenary consideration of the proposed national e.penditure measure
afforded the sponsors to present the macroeconomic assumptions that +ecame +asis for economic
gro,th perspective for the country in 2015.
1"fter four years of firm political ,ill and un,avering determination( the economy is no,
on the path of sustaina+le gro,th( moving a,ay from the cyclical periods of gro,th that have
characteriBed the economy in the past(4 *nga+ stressed( adding that 1the country9s economic
performance no, leads southeast "sia.4 ;>0< dpt