Malacañang has denied reports that say only 16 percent of the national budget is left for the next administration.
Earlier, Presidential Communications Secretary Sonny Coloma clarified reports that over 80 percent of the national budget has been distributed to government agencies.
Coloma explains that while it is true that P2.5 trillion of the national budget has already been released, it does not mean that the said amount was already disbursed or actually spent. He says the term release in the General Appropriations Act, the basis of the 3.002 trillion-peso national budget, only means giving the authority to use the amount – the first step, prior to disbursement of funds.
He says only P464 billion of the P2.5 trillion had been obligated or had undergone the second step. Of the said amount, P411.3 billion was disbursed.
“You cannot get into the third step without undergoing the second step. That’s why if in the step 2, only 400 million was disbursed. Theoretically, about 2.7 have not yet been disbursed to reach the 3 trillion pesos,” explains Coloma.
Coloma also assured that the aquino administration will pass on a stable fiscal policy to the next administration.
“The Aquino administration has always adhered to sound fiscal policy in handling peoples fund. And shall pass on the next admin a robust liquid and financially stable national coffers,” Coloma said.
(DARLENE BASINGAN/UNTV News)