MANILA, Philippines -- Senator Franklin Drilon is hopeful the bicameral conference committee will be able to come up with a reconciled 2013 budget bill by next week, after the measure was approved by the Senate Wednesday night.
"We are confident that by next week, we should be able to come up with a revised version, a reconciled version of the budget bill," Drilon told ANC's News Now on Thursday.
"The differences between the two versions [approved at the lower and upper houses] are not that substantial," he added.
After coming up with a reconciled version, the bill is expected to be signed into law by December 20.
The Senate on Wednesday night approved the 2013 national budget on third and final reading. The bill was then brought to the bicameral conference committee Thursday morning.
Next year's proposed budget amounts to P2.006-trillion, 10.5% more than the P1.816 trillion budget for 2012.