“We’re working towards sustained and inclusive development in the country through bigger investments in key economic activities under the 2014 General Appropriations Act (GAA). For one, we plan to spend P404.3 billion or 3.1 percent of the country’s GDP for infrastructure development this year, a 37.2-percent increase from last year’s spending level. We will likewise broaden these investments over the next two years, so that infrastructure spending will corner 5.1 percent of the country’s GDP by 2016,” Secretary of Budget and Management Florencio “Butch” Abad said.
Under the GAA-as-Release-Document budget regime, departments and agencies will no longer need to secure special allotment release orders to obligate funds—which involves entering into contracts and kick-starting the procurement process—for a particular project. Instead, an agency can begin obligating funds as soon as the 2014 GAA is implemented on the very first working day of the fiscal year.
Approved on December 20, 2013: An Act appropriating funds for the operation of the government of the Republic of the Philippines from January one to December thirty-one, two thousand and fourteen, and for other purposes.
The General Appropriations Act (GAA) for 2014 is Php 2.265 trillion, 13 percent higher than the 2013 GAA. This budget embodies the Aquino administration’s thrust for inclusive development. Its markedly higher allocations for Social and Economic Services will be invested in empowering the people and creating more economic opportunities for them.
Here’s how the budget is broken down per sector, and a list the ten departments with the highest allocations for 2014.
Veto Message of President Aquino to the 16th Congress regarding the General Appropriations Act of 2014
Sa pagpasa natin sa Budget na ito, tumutugon tayo sa tawag ng panahon. Tumutugon tayo sa malinaw na atas ng taumbayan na paigtingin ang reporma sa gobyerno. Tumutugon tayo sa pangangailangan ng mga biktima ng mga nagdaang sakuna. Higit sa lahat tumutugon tayo sa hinahangad nating malawakang kaunlaran para sa lahat.
Consistent with the Administration’s tradition of enacting the National Budget on time, President Benigno S. Aquino III today signed the P2.265-trillion 2014 General Appropriations Act (GAA), effectively setting next year’s expenditure program in motion and instituting a range of public spending reforms that will bring greater efficiency, transparency, accountability, and openness in the budget process.
Taon-taon, binubuo natin at isinasabatas ang planong gastusin sa Pambansang Budget. Sa prosesong ito, hindi lamang natin tinatanggal ang mga programang latak o walang saysay— binubuo natin ito para tugunan ang lahat ng pangangailang ng bawat isang Pilipino. Iba’t iba man ang datos na inilalatag natin sa makapal na librong ating pinirmahan, iisa naman ang diwang nakapaloob sa bawat nilalaman nito: Ang pera ng taumbayan ay para lamang sa taumbayan. Bawat kusing sa kaban ng bayan ay dapat dumiretso sa kapakanan at sa ikauunlad ng buhay ng ating mga Boss.
[English translation] Speech of President Aquino at the signing of the 2014 General Appropriations Act
Every year, we craft and sign into law planned expenditures through the National Budget. Through this process, we are not just removing programs and processes which lead to waste, or have been proven to be inefficient—we are crafting this Budget to answer all the needs of the Filipino people.