Palace allots bigger budget for social services

ABS-CBN News

Posted at Aug 06 2010 07:48 PM | Updated as of Aug 07 2010 03:48 AM

MANILA, Philippines - The Aquino administration is eyeing a bigger budget for social services including education, healthcare and the conditional cash transfer program while maintaining a "fiscally responsible" national budget for 2011.

In a press briefing, Secretary Ricky Carandang of the Presidential Communications Group said the administration is on track to submit the proposed national budget on August 25.

Carandang said the 2011 budget “reflects the vision and commitment of the President to strengthen social services through increased budgets and to maintain a fiscally responsible budget.”

He said the budget for 2011 will target a debt to gross domestic product (GDP) ratio of 3.8%, which is slightly higher than 3.3% ratio proposed by the business sector and foreign investors.

He said that the public can now report irregularities and corruption in the financial sector through the website of the Department of Finance at www.perangbayan.com on Facebook and Twitter.