Sun. Jan 24th, 2021

The leaders of the two chambers of Congress have signed the finalized document for the proposed P4.50-trillion 2021 national budget that will be transmitted to Malacanang on Thursday night or Friday morning.

Senate President Vicente Sotto 3rd and House Speaker Lord Allan Velasco affixed their signatures on the final copy of the proposed budget that was ratified early this month.

In a message to reporters, Sotto said the final copy of the proposed budget will be transmitted to the Palace for President Rodrigo Duterte’s review and signature.

For his part., Velasco said the 2021 budget is the “single-most powerful tool” to fight the coronavirus disease 2019 (Covid-19) pandemic and help economy recover from the health crisis’ adverse impact.

Data from the Senate Finance Committee showed the education sector got the biggest allocation from the proposed budget or P708.181 billion, which will be distributed to the Department of Education, state universities and colleges, Commission on Higher Education, and the Technical Education and Skills Development Authority (TESDA).The Department of Public Works and Highways got P694.822 billion followed by the health sector with P287.472 billion. The allocation for the health sector will be for the Department of Health, the Philippine Health Insurance Corporation (PhilHealth), specialty hospitals, the Philippine Institute Of Traditional And Alternative Health Care, and the Health Facilities Enhancement Program (HFEP), as well as acquisition for Covid-19 vaccines worth at P72.5 billion. SOVEREIGNPH

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