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Metro Manila (CNN Philippines, December 18) – The proposed $ 4.5 trillion national budget for 2021 is closer to becoming law after Malacañang confirmed receiving a copy from Congress on Friday.
President Rodrigo Duterte will sign the proposed General Appropriations Law before Christmas, his spokesman Harry Roque previously said.
Congress ratified the budget bill last week after months of deliberation. Duterte had to call a special session of Congress and certify the bill as urgent in October due to the dispute between House leaders that was ultimately resolved with the election of the Speaker of the House, Lord Allan Velasco.
The national spending plan for next year includes funds for response and recovery from the COVID-19 pandemic, including subsidies to industries in crisis and vaccine purchases.
$ 72.5 billion will be used to secure coronavirus vaccines, of which $ 70 billion will be supported by loans or by raising excess revenue.
It also provides $ 1.1 trillion for infrastructure projects, which are touted to create jobs and boost economic activity after a year of recession.
Education will receive the largest allocation with $ 708.2 billion, followed by Public Works with $ 694.8 billion. Health-related spending receives $ 287.5 billion, according to the office of Senate Finance Committee Chairman Sonny Angara.
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