DBM sets guidelines to 'minimize' damage of reenacted budget

ABS-CBN News

Posted at Jan 03 2019 03:27 PM

MANILA – The Department of Budget and Management on Thursday said it would oversee the requirements of the national government as it runs on a reenacted budget to minimize its "damage" on the economy.

A reenacted budget will "presumably" last for the first quarter of 2019, Budget Secretary Benjamin Diokno said in a statement. Lawmakers failed to pass the budget in time due to questions over alleged insertions. 

"We will do what we can to minimize the damage to the Philippine economy, particularly public construction. You see, as early as the first working day of the year, we have come up with the guidelines for fund releases under the reenacted budget," he said.
 
On Thursday, the agency released Circular Letter No. 2019-1 which will be enforced until the General Appropriations Act 2019 is passed into law by the Congress. 

It will cover the release of funds in the first quarter of 2019 in anticipation of the passage of the GAA, he said.

"Ramping up our investments on infrastructure and social services will only be sustainable if the budget is authorized by Congress," he said. 

The proposed P3.75 trillion 2019 national budget is unlikely to be signed until Feb. 7, according to the Senate's "tentative calendar" released earlier by Senate Majority Floor Leader Miguel Zubiri.