President Rodrigo Duterte has approved the proposed P4.506-trillion national budget for 2021, with the theme “Reset, Rebound and Recover: Investing for resiliency and sustainability,” as the country weathers the impact of the COVID-19 pandemic.
“The proposed fiscal year (FY) 2021 budget aims to sustain government efforts towards effectively responding to the COVID-19 pandemic by focusing government spending on improving our healthcare systems, ensuring food security, increasing investments in public and digital infrastructure, and helping communities cope and prevail in these trying times,” the Department of Budget and Management said.
Next year's budget is 9.9 percent higher than this year's P4.1 trillion spending plan.
It is also equivalent to 21.8 percent of the country's gross domestic product.
The DBM said the proposed budget aims to ensure food security and help "communities cope and prevail in these trying times.”
Duterte approved the proposed budget Thursday last week, and the DBM has until August 27 to submit the 2021 National Expenditure Program to Congress.
