MANILA, Philippines - Budget Secretary Butch Abad said next year's budget will exceed P2 trillion for the first time.
The P2 trillion national budget will be 10% more than this year's P1.8 trillion budget. This is the same increase from last year to this year, with the government planning to boost infrastructure and social services, such as its conditional cash transfer program.
The President usually submits his budget to Congress after his State of the Nation Address in late July.
In some years, Congress only approves the budget after a new year has started, forcing the government to operate temporarily on the previous year's budget.
So far, Congress has delivered both of Aquino's budgets on time, allowing him to sign them by late December. - ANC