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Palace submits P1.8-T proposed budget for 2012 to Congress


Malacañang on Tuesday submitted to Congress its P1.8-trillion proposed budget for 2012 for deliberation — the earliest submission since 2002. House Speaker Feliciano Belmonte Jr. and other leaders of the chamber, together with members of the committee on appropriations, accepted the budget personally submitted by Budget and Management Secretary Florencio Abad. “This means that we can deliberate on this (budget) sooner than in the past... Step number one has already been taken care of by the budget department," Belmonte said after the turnover of the proposed budget. Committee deliberations on the proposed budget will begin on Monday in order for it to be passed by December 15, appropriations panel chair Cavite Rep. Joseph Emilio Abaya said. The budget was submitted a day after President Benigno Aquino III delivered his second State of the Nation Address (SONA). The last time the budget proposal was submitted a day after the SONA was on July 27, 1999, after then-President Joseph Estrada's second SONA. The proposed budget for 2012 is P171 billion or 10.4 percent more than the P1.645 trillion for 2011. It accounts for 16.5 percent of the projected gross domestic product (GDP). The budget is based on a growth assumption of 5.5 percent, although the administration continues to vie for a 7 percent to 8 percent growth. — Andreo C. Calonzo/KBK, GMA News

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