Connect with us

Hi, what are you looking for?

Stock Markets

DA to propose P513.81-billion infra-heavy budget for 2025

PHILSTAR

THE Department of Agriculture (DA) said Thursday that its significantly expanded budget proposal for 2025 will help address shortcomings in farm infrastructure.

In a statement, the DA said that it will propose a P513.81 billion budget for 2025. If approved, this would be more than double the DA budget of P208.58 billion in 2023.

Agriculture Secretary Francisco P. Tiu Laurel, Jr. said that the funds will support the construction of irrigation and postharvest facilities.

“(The budget) is still a work in progress but clearly shows the direction we are headed,” he added.

Under its proposed budget plan, the bulk of expenditures will go to the National Irrigation Administration, National Food Authority, Philippine Coconut Authority, Philippine Fisheries Development Authority, and the National Dairy Authority.

“The proposed combined budget for the eight DA attached corporations is P287.98 billion, more than triple their total budget of P94.3 billion for this year,” the DA said.

Mr. Laurel has said that P93 billion is needed for postharvest facilities to reduce rice and corn waste.

He added that about P1.2 trillion will be required to irrigate an additional 1.2 million hectares to boost rice production and reduce imports.

“For the DA itself, the envisioned budget for 2025 is nearly double at P225.83 billion… to allow various bureaus to cope with the need to modernize the fisheries and farm sectors as well as address food safety and anti-smuggling efforts,” the agency said.

The DA said that 57% or P294.21 billion of the proposed budget will be dedicated to rice.

Fisheries will get P50.6 billion, while locally funded projects will be allotted P45.48 billion.

It added that cross-cutting programs will be allocate P34.5 billion, high value crops P32 billion, livestock P28.56 billion, foreign-assisted projects P13.77 billion, corn P11.3 billion, and credit programs P3.38 billion. — Adrian H. Halili

Click to comment

Leave a Reply

Your email address will not be published.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

You May Also Like

Finance

<?xml encoding=”utf-8″ ?????????> Recent revelations from internal meetings at Meta, the parent company of Facebook and Instagram, have shed light on discussions among managers,...

Stock Markets

PHILIPPINE STAR/KRIZ JOHN ROSALES THE DEPARTMENT of Budget and Management (DBM) on Thursday said it approved the release of P5.83 billion to help build...

Finance

<?xml encoding=”utf-8″ ?????????> In a strategic move to solidify family control over the LVMH luxury conglomerate, Bernard Arnault, the world’s wealthiest individual, has elevated...

Stock Markets

LISTED Metro Retail Stores Group, Inc. has opened a new distribution center in Santa Rosa, Laguna, as part of its expansion strategy in Luzon....

Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 Captain Of Success. All Rights Reserved.