Stock Markets

Flood control budget more than doubled since 2015

Flood control budget more than doubled since 2015 – BusinessWorld Online


      
      
      
      
      








PHILIPPINE STAR/RUSSELL PALMA

THE share of flood control projects in the national budget has more than doubled since 2015, the Ateneo School of Government (ASOG) said.

In its position paper on Sept. 22, the ASOG data showed that the Department of Public Works and Highways’ (DPWH) flood control budget stood at P254.30 billion, or 4.02% of the 2025 General Appropriations Act (GAA). This is up 148.15% from P42.28 billion, which accounted for 1.62% of the 2015 GAA.

“The deepening crisis of corruption is systematically eroding the integrity of public institutions, and corroding the moral fabric of public service. The magnitude of resources siphoned through these practices is not only alarming but profoundly disturbing,” it said.

This ballooning fund may have come at the expense of health, transport, infrastructure, agriculture-based investments, it added.

The ASOG also flagged a notable increase in the budget of the Office of the President, the Office of the Vice President, the Senate, and the House of Representatives since 2016.

The Office of the President’s P15.85 billion funding this year is more than fivefold (461%) of its 2016 budget, which stood at P2.83 billion.

Meanwhile, the budget of the House of Representatives and Senate soared by 280% to P33.67 billion and 275% to P13.93 billion, respectively, since 2016. — Aubrey Rose A. Inosante

CEDTyClea





You May Also Like

Stock Markets

Pedestrians along the Estrella-Pantaleon Bridge are dwarfed by the towering buildings in Makati City, Dec. 5, 2022. — PHILIPPINE STAR/MIGUEL DE GUZMAN THE Department...

Finance

Prime Minister Keir Starmer is tightening control over the government’s economic strategy by strengthening a cross-government Budget Board that will shape the Autumn Statement...

Finance

Formula 1 drivers Isack Hadjar and Liam Lawson of the Visa Cash App Racing Bulls (VCARB) team have taken an unusual step to thank...

Finance

A new player in football talent management has entered the game. M+C Saatchi Football, co-founded by former England and Liverpool midfielder Jamie Redknapp, officially...

Exit mobile version