Wednesday 24 April
Eco managers call on Congress: Pass budget or economy will suffer Mar 17, 2019 @ 10:37

Ecomic team to Congress: Pass budget or economy will suffer

 

Backroom politicking may have irreversible consequences.

Members of President Duterte‘s economic team urged Congress to end the stalemate over the 2019 budget.

The government has been using a reenacted budget since Jan. 1. This means that new and continuing infrastructure projects are not given funding.

The country’s economic managers said this would slow growth to just 6-7% this year.

“We therefore urge Congress to transmit the 2019 National Budget at the soonest
possible time to Malacañang so the government can sustain its investments on
development priorities, namely public infrastructure and social services,” the economic managers said in a joint statement.

“The longer the budget impasse lasts, the larger the adverse effect to the Philippine economy and its people,” they said.

The House of Representatives and Senate are fighting over provisions of the P3.757-trillion budget even after it has been ratified during their bicameral session.

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