Philippine president signs 2016 national budget

Manila, Dec 22 (IANS) Philippine President Benigno S. Aquino III on Tuesday signed a 3 trillion pesos ($63 billion) national budget for next year in a ceremony in Malacanang, the presidential palace.

The 2016 budget is the biggest in the country’s history and 15.2 percent higher than the 2.606 trillion pesos ($55 billion) budget of 2015, Xinhua news agency reported.

Aquino thanked Congress for passing the budget on time for the six straight years.

He said the budget for infrastructure next year would be 5 percent of the country’s gross domestic product.

Of the total budget, the largest portion would go to social services, with 1.106 trillion pesos or 36.8 percent, followed by economic services covering areas such as infrastructure, agriculture, transport and communications, accounting for 829.6 billion pesos or 27. 6 percent.

General public services will take in 517.9 billion pesos or 17.3 percent, while defence and security will receive 129.1 billion pesos which stands as the lowest allocation among sectors at 4.3 percent. Meanwhile, 14 percent of the budget will go to debt interest payment.

Among the agencies, the education department has the biggest budget at almost 437 billion pesos.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of or any employee thereof. is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here