The Philippines: Proposed PHP5.024tr budget for 2022 now in Senate hands

• President Rodrigo Duterte’s final budget is now on the Senate floor for deliberations, as lawmakers target to get the spending plan enacted in time.
• It is now Senators’ turn to carefully scrutinize the proposed PHP5.024tr general appropriations bill for next year after the House of Representatives sent the measure to the upper chamber two days ahead of target, House Speaker Lord Allan Velasco said in a statement on 27 Oct 21 said.
• The record budget for 2022 is equivalent to 22.8% of GDP and is higher by 11.5% than 2021’s outlay.
• The proposed spending plan would keep the government, but more importantly Duterte’s successor, funded amid a costly and long battle against the coronavirus pandemic.
• House lawmakers made several revisions to the budget bill, including an increase in funding for vaccine procurement and health workers’ compensation.
• Once the Senate approves the proposed spending plan final reading, leaders from both chambers of Congress would have to meet in a bicameral conference to reconcile the differences in the House and Senate versions of the bill, before sending it to Duterte for his signature.

External Link : https://www.philstar.com/business/2021/10/27/2137057/proposed-p5024-t-budget-2022-now-senate-hands/