{"id":193747,"date":"2018-12-12T23:23:22","date_gmt":"2018-12-13T04:23:22","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=193747"},"modified":"2018-12-12T23:23:22","modified_gmt":"2018-12-13T04:23:22","slug":"diokno-raises-possibility-of-special-session-for-2019-budget","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/12\/12\/diokno-raises-possibility-of-special-session-for-2019-budget\/","title":{"rendered":"Diokno raises possibility of special session for 2019 budget"},"content":{"rendered":"
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\u201cLet\u2019s fix one thing at a time,\u201d he added. (File Photo: Department of Budget and Management)<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0— Budget and Management Secretary Benjamin Diokno raised the possibility of requesting for a special session with lawmakers to discuss the passage of the proposed PHP3.757-trillion national budget for 2019.<\/p>\n

This, as the approval of the proposed budget for next year remains in question as some lawmakers alleged that there were some insertions in the proposed budget, which Diokno vehemently denied.<\/p>\n

In a briefing Wednesday, Diokno said they will likely propose to President Rodrigo R. Duterte to request for a special budget session with lawmakers.<\/p>\n

\u201cThat\u2019s entirely possible because today (Wednesday), they will meet as a joint session and tomorrow (Thursday) they will adjourn. So there\u2019s a possibility that the President may call for a special session to fix the budget,\u201d he said.<\/p>\n

Asked when the recommendation will be made, Diokno said it \u201ccan be sooner, can be up to Friday.\u201d<\/p>\n

\u201cLet\u2019s fix one thing at a time,\u201d he added.<\/p>\n

Diokno reiterated that any delay in the approval of next year\u2019s proposed national budget may have an impact on the domestic economy\u2019s growth, among others.<\/p>\n

Citing Department of Budget and Management (DBM) estimates, he said a re-enacted budget will reduce disbursements amounting to about PHP220 billion.<\/p>\n

\u201cOur growth targets are anchored on a carefully-crafted expansionary fiscal policy. If you reduce the budget, you interrupt our growth momentum,\u201d he said.<\/p>\n

Citing National Economic and Development Authority (NEDA) estimates, the Budget chief said the domestic output may decline by about 1.1-2.3 percent and will not be able to be within the 7-8 percent target for 2019-22.<\/p>\n

Jobs will also be affected as it is projected to decline by as much as 600,000 in several sectors like construction, public administration and defense, wholesale and retail trade, and land transport and education.<\/p>\n

Diokno explained that a re-enacted budget worked during the Arroyo administration even if it was for the whole year.<\/p>\n

He, however, clarified that interpretation by economic managers under the Duterte administration of a re-enacted budget is that it is only for personnel services (PS) and maintenance and other operating expenses (MOOE).<\/p>\n

He said capital outlays (CO) cannot be re-enacted because this item has been spent on a specific project that cannot be implemented again.<\/p>\n

Thus, he stressed that there is a need to approve the budget for next year before the year ends.<\/p>\n

\u201cI have previously served two other Presidents, and I have not seen the stars align like it has for this one. With steady and relatively stable growth, we have a golden opportunity here to bring our growth even further by investing in infrastructure and human capital. We would be wasting that opportunity if we re-enact the budget,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0— Budget and Management Secretary Benjamin Diokno raised the possibility of requesting for a special session with lawmakers to discuss …<\/p>\n","protected":false},"author":44,"featured_media":173230,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-193747","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/193747","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=193747"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/193747\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/173230"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=193747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=193747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=193747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}