Ex-finance chief urges executive, legislative branches to work to reduce unprogrammed appropriations

  • 📰 BusinessMirror
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 59%

Business News News

Business Business Latest News,Business Business Headlines

Reduce unprogrammed appropriations and include key priority social and infrastructure projects in programmed appropriations so that the Department of Finance (DOF) can focus on increasing revenues instead of scrutinizing the budgets of government-owned and -controlled corporations (GOCCs) for excess financial resources that could be tapped to fund...

Reduce unprogrammed appropriations and include key priority social and infrastructure projects in programmed appropriations so that the Department of Finance can focus on increasing revenues instead of scrutinizing the budgets of government-owned and -controlled corporations for excess financial resources that could be tapped to fund unprogrammed appropriations.

While Teves acknowledged that “a reasonable amount of unprogrammed appropriations is necessary to cover expenses arising from unforeseen events since the national government budget is prepared one year ahead of time,” he warned that “moving crucial social and infrastructure projects from programmed to unprogrammed is not only questionable but also undermines the government’s commitment to inclusive development and fiscal prudence.

“This could be done for the proposed 2025 NG budget before the deliberation in the bicameral conference committee. The Ledac can be convened for succeeding years before the NG budget is formally sent to Congress,” he said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 19. in BUSİNESS
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Business Business Latest News, Business Business Headlines