Over P500B in lump sum funds in P2.6-T nat’l budget

Lump sum funds will still comprise almost 30 percent of the proposed P2.606 trillion General Appropriations Act for 2015, Budget Secretary Florencio Abad said Wednesday. Abad said the special purpose funds (SPF), which critics call the President’s “pork barrel,” amount to P501.670 billion of the proposed appropriations for 2015. “I don’t think that’s too big an amount,” Abad said of the SPF, which includes such items as the President’s calamity fund and debt payments.

Source: GMA News

Posted in Local News

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Share This Website

  • Share on Tumblr

Hot Categories