Metro Manila (CNN Philippines) — Economic Planning Secretary Arsenio Balisacan presented before the Senate on Monday (September 21) the proposed P7.05-billion budget of the National Economic and Development Authority (NEDA) P7.05 billion for 2016.
The National Expenditure Program lists six key strategies for NEDA next year:
Steer processes for socioeconomic and physical planning across agencies
Facilitate investment programming and direct/align resources for investment toward priority areas
Provide useful monitoring and evaluation services to measure impact and allow for timely interventions
Provide sound policy advice and technical support to the Executive and legislative branches
Purse organizational development through capacity building, systems improvement and physical assets upgrading to improve productivity
Optimize strategic linkages to attain organizational effectiveness
Sen. Ralph Recto, who headed NEDA from 2008 to 2009, brought up the issue of tax reforms and pointed out to NEDA that fiscal policy is one of its principal mandates. He said that a third of the budget was not spent in terms of disbursement cash.
Recto also questioned the proposal to lend P30 billion to the Development Bank of the Philippines and Landbank, and also pointed out that infrastructure spending has quadrupled but poverty has stayed the same. NEDA said that there needs to be another form of revenue on income tax reform.
Balisacan mentioned that they will be focusing on infrastructure, social services and health education among others but said that they are addressing the current poverty problem. He added that infrastructure is key to reducing poverty and improving jobs.
The budget has been approved by the Senate Finance Committee and will be submitted to the plenary.
CNN Philippines’ Anna Estanislao contributed to this report.
