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| GMA signs budget bill |
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| Tuesday, 09 February 2010 19:46 |
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President Macapagal-Arroyo signed ‘but with veto on certain provisions’ the P1.54 trillion national budget for this year. The President said the 2010 national budget signals the “end of years of hard work and fiscal reforms” and “the beginning from which the next president can build on the accomplishments of this administration.” Budget Secretary Rolando Andaya, Jr. said Mrs. Arroyo vetoed the P64 billion insertion made by Congress which was taken out of debt service since this would push the deficit to P358 billion. He said Congress removed the P64.6 billion from interest payments and inserted it in the form of new projects. This year’s budget is eight percent or P115 billion higher than last year’s P1.426 trillion. The Department of Education gets the lion’s share with P174. 9 billion followed by the Department of Public Works and Highways with P135.6 billion, Department of Interior and Local Government, P66.45 billion, and the Department of National Defense, P57.84 billion. |
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