Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

DBM to pre-select vetted infra projects for legislators

DBM to pre-select vetted infra projects for legislators – BusinessWorld Online


      
      
      
      
      








BW FILE PHOTO

THE Department of Budget and Management (DBM) is working on creating a “menu” of ready-to-implement infrastructure projects for legislators to include in the budget, Secretary Amenah F. Pangandaman said.

“We are going to have a menu for our legislators. If they want to add to the budget or if they see something from our list of projects, for example, flood control, farm-to-market roads, school building programs, they can choose from that menu,” she said on a radio program on Wednesday.

She said the menu system ensures that a project is pre-vetted or validated.

Ms. Pangandaman has indicated a move to a more coordinated, efficient and data-driven approach in selecting priority projects.

The Development Budget Coordination Committee has proposed a P6.793-trillion spending plan for 2026. This is 7.4% higher than this year’s budget and is equivalent to 22% of gross domestic product.

President Ferdinand R. Marcos, Jr. in his State of the Nation Address last month said he would not approve any 2026 national budget that significantly deviates from his government’s national expenditure program.

This could lead to a reenacted budget, under which the government is forced to operate under the preceding year’s budget. The last major reenacted budget crisis was in 2019 under President Rodrigo R. Duterte, during which the new year’s budget was left unsigned for four months.

The House of Representatives is expecting to receive the proposed national budget for 2026 by next week. Budget hearings are set to begin in September. — Luisa Maria Jacinta C. Jocson

CEDTyClea





    You May Also Like

    Finance

    Trump Media and Technology Group (TMTG) has struck a deal to broadcast GB News on its US-based streaming platform, Truth+, in a move that...

    Finance

    Maven Capital Partners has invested £1.5 million in Blueskytec, a cybersecurity hardware specialist, through the British Business Bank’s South West Investment Fund. Blueskytec develops...

    Finance

    A Hardback Journal offers more than just durability; it is a trusted companion in your journey toward emotional clarity, positivity, and mental well-being. At...

    Finance

    Parents at Britain’s leading private schools have prepaid more than £500 million in school fees to avoid Labour’s new 20 per cent VAT charge,...

    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.