Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

DBM hopes to submit spending plan to Congress by second week of Aug.

DBM hopes to submit spending plan to Congress by second week of Aug. – BusinessWorld Online


      
      
      
      
      








BW FILE PHOTO

THE Department of Budget and Management (DBM) said it hopes to submit the proposed national budget for 2026 to Congress by the second week of August.

“The second week of August is tentative. No final date yet,” Budget Undersecretary Goddes Hope O. Libiran told BusinessWorld via Viber over the weekend.

The P6.793-trillion national expenditure program (NEP) for 2026 must be submitted to Congress within 30 days after the opening of the regular session of the legislature on July 28.

President Ferdinand R. Marcos, Jr. approved the P6.793-trillion NEP on July 17.

The NEP is equivalent to 22% of gross domestic product and 7.4% higher than this year’s P6.326-trillion spending plan.

Separately, the DBM said the Right to Information bill is expected to be filed with the 20th Congress next month.

“Finalizing the executive version of the bill,” Budget Secretary Amenah F. Pangandaman told BusinessWorld via Viber.

She said the proposed bill seeks to hold officials accountable and ensures that government actions are subject to scrutiny.

“Among the salient features of the proposed bill is the expansion of the scope and coverage to include all branches of government, including local government units (LGUs), government-owned and -controlled corporations (GOCCs), state universities and colleges (SUCs), and private entities involved in public transactions,” Ms. Pangandaman said.

The proposed legislation sets clear and standardized timelines for processing information requests, she said.

Despite the right to information being enshrined in the 1987 Constitution, the government has yet to pass a Freedom of Information law.

“It also includes provisions which mandate all government agencies to proactively disclose government information and to uphold institutional accountability through ensuring the accuracy, integrity, and timelines of information government agencies disclose,” she added. — Aubrey Rose A. Inosante

CEDTyClea





    You May Also Like

    Stock Markets

    STOCK PHOTO | Image by Jcomp from Freepik (Part 1) A Philippine delegation of 42 agribusiness entrepreneurs and academics traveled to Ho Chi Minh from...

    Stock Markets

    STOCK PHOTO | Image by Vecstock from Freepik By Ashley Erika O. Jose, Reporter THE P31.55-BILLION unsolicited proposal of ComClark Network and Technology Corp. for...

    Finance

    Padel continues its meteoric rise, with more than 3,200 new clubs built globally in 2024 – the equivalent of one opening every two and...

    Finance

    Marks & Spencer’s new strawberry and cream sandwich has captured attention on social media — but now it’s caught the eye of tax experts,...

    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.