{"id":179312,"date":"2018-08-30T21:27:34","date_gmt":"2018-08-31T01:27:34","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=179312"},"modified":"2018-08-31T04:44:38","modified_gmt":"2018-08-31T08:44:38","slug":"palace-expects-2019-natl-budget-passed-time","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/08\/30\/palace-expects-2019-natl-budget-passed-time\/","title":{"rendered":"Palace expects 2019 nat\u2019l budget to be passed on time"},"content":{"rendered":"
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Under this system, Roque said the government would have 12 months to obligate and 18 months to disburse its budget. (PCOO FILE PHOTO)<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0— Malaca\u00f1ang said Thursday it expects the proposed 2019 national budget of PHP3.757 trillion to be passed on time and signed by President Rodrigo Duterte before the end of the year.<\/p>\n

The optimism came after the House of Representatives and the Executive Department have finally agreed on a transitory cash-based budgeting system.<\/p>\n

\u201cPer the Department of Budget and Management (DBM), they, together with Congress, have agreed to a transitory cash-based system,\u201d Presidential Spokesperson Harry Roque said in a press statement.<\/p>\n

Under this system, Roque said the government would have 12 months to obligate and 18 months to disburse its budget.<\/p>\n

Budget Secretary Benjamin Diokno said this means extending the payment period for projects to six months to June 2020, instead of the initial proposal of only three months or until March 2020, since 2019 is an election year.<\/p>\n

Roque, meanwhile, said the DBM shall be disclosing the full details of this transitory cash-based system \u201cin due time\u201d but did not give further details.<\/p>\n

Earlier, Roque reiterated the Executive Department\u2019s preference for cash-based budgeting.<\/p>\n

\u201cWe\u2019re not about to give in. The cash transaction will ensure that only those projects that can actually be implemented will be included in the budget,\u201d he said.<\/p>\n

On August 11, the House temporarily suspended budget hearings amid lawmakers’ opposition to the DBM\u2019s proposed cash-based budgeting system, saying it will negatively impact projects. However, the House resumed hearings on August 28.<\/p>\n

In an annual cash-based budget, contracts intended to be implemented for the fiscal year should be fully delivered by the end of the year.<\/p>\n

On the other hand, a multi-year obligation-based budgeting system allows the government to enter into a contract or “obligate funds” without requiring the actual delivery of goods and services within the year.<\/p>\n

Some agencies were given budget under the proposed 2019 national budget, which Diokno said, was due to underspending in past years based on the findings by the Commission on Audit.<\/p>\n

Diokno said a \u201csupplemental budget is a possibility but not a certainty,\u201d noting there should be an \u201coverwhelming justification\u201d for this purpose.<\/p>\n

He said Malaca\u00f1ang must first identify the funding source for a supplemental budget, which can be disbursed in December if funds are really available, but it will take effect only next year.<\/p>\n

\u201cWe cannot just pass the supplemental budget to Congress without telling them the source of funding. So if Congress will pass all tax measures, then there\u2019s a possibility,\u201d Diokno said.<\/p>\n

\u201cLet them do the tax reform measures first, so we will have a basis for a supplemental budget,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0— Malaca\u00f1ang said Thursday it expects the proposed 2019 national budget of PHP3.757 trillion to be passed on time and …<\/p>\n","protected":false},"author":44,"featured_media":170146,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1145,16,95],"tags":[],"class_list":["post-179312","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headline","category-news","category-news-ph","mauthors-azer-parrocha","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/179312","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=179312"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/179312\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/170146"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=179312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=179312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=179312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}