Palace opposes re-enacted budget in 2019, warns of consequences on economy - News Summed Up

Palace opposes re-enacted budget in 2019, warns of consequences on economy


Palace opposes re-enacted budget in 2019, warns of consequences on economyBy RALPH VILLANUEVAMALACANANG on Thursday opposed the proposal of Senate President Vicente Sotto 3rd for a re-enacted budget in 2019, saying it will do more harm than good. He said that such a move would result in a loss of 1 to 2.3 percentage points in the full-year gross domestic product (GDP) if the P3.757 trillion 2019 budget won’t be approved. Panelo also said that the administration’s mega-infrastructure Build, Build, Build projects would also be sidelined, which would have a domino effect on the employment of Filipinos and other aspects. The spokesman also called on members of Congress to pass the bill anew, saying they know the dire consequences of a re-enacted budget. Congress failed to pass the 2019 General Appropriations Act (GAA) or the proposed P3.757-trillion national budget over alleged irregularities.


Source: Manila Times January 31, 2019 04:41 UTC



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