Illustrative image (Photo: zdnet.com)Hanoi (VNA) - The Philippine government is seeking arecord 4.3 trillion pesos (85.97 billion USD) budget for 2021, focusing onreviving a coronavirus-hit economy.
The draft budget, set to be submitted to the Congress when it resumesmeeting next month, is 5 percent higher than this year’s 4.1 trillion pesos,said Budget Secretary Wendel Avisado.
Next year’s spending is geared toward further buttressing the healthcaresystem, ensuring food security, hastening the government’s digitaltransformation, and helping communities to rebound.
The proposed budget is separate from a 1.3 trillion peso stimulusbill that the lower house passed early this month, and another stimulus planunder discussion at the Senate.
It would help the government move past the pandemic and providethe kind of programmes, activities and projects for people, especially thosewho lost their jobs, Avisado said.
The administration of President Rodrigo Dutertefaces the enormous task of resuscitating growth and creating jobs in 2021,before his six-year term ends in June of the following year.
The Southeast Asian country, which used to enjoy one of the world’s fastesteconomic growth rates before the coronavirus wreaked havoc on global business,is projected to suffer a decline of 2-3.4 percent in gross domestic productthis year./.
VNA
