The Philippines budget 2012 has been valued at 1.816 trillion Philippine Pesos. With this budget the government will focus on areas like reducing leakages and selecting better projects that will make the national economic set up a more efficient one.
While making the 2012 budget, the national government carried out a detailed assessment of the possible effects of leading public projects and initiatives. It also analyzed the potential of various agencies and departments with regards to the implementation of these programs.
With the budget for the upcoming fiscal the government has also tried to make sure that the priority programs are given maximum importance.
Philippines Budget 2012 Highlights:
The 2012 Philippines budget is 10.4 percent more than the 2011 budget whose worth is P1.645 trillion.
The government will be focusing on better utilization of tax money it will try to pick projects and initiatives that will be of maximum benefit of the taxpayers.
The 2012 budget will take a Zero-Based Budgeting approach. This will help in greater waste reduction and better allocation of resources.
Through the 2012 budget the government has looked closely at the lump sum funds that have not always been used properly.
The government has tried to make the process of budgetary allocation a better one, especially for the smallest units of the administrative agencies and departments. It is expected that this step will make these entities more accountable and provide them with greater power.
In the upcoming fiscal, the government will also look to tighten its savings.
The financial procedures followed by the Armed Forces of Philippines or AFP are far from being ideal, according to the present administration.
So, the government has asked the Department of Budget and Management (DBM) and Department of National Defense (DND) to work together and find some viable solutions. But, at the same time, it has asked these bodies to make sure that the AFP has enough financial resources to execute their missions.
The government will also look to increase the number of teachers, policemen and soldiers, health workers, and auditors and judges.
Philippines Budget 2012 � Expectations:
The present administration is creating its first budget and it is expected to fulfill the governmental commitment. This budget will also focus on creating an efficient and sincere administrative set-up.
Through the 2012 budget the national administration will attempt to empower the economically backward and vulnerable sections of the society. The budget will also focus on creating the proper environment for economic growth that is quick, sustained and inclusive.
The legal structures will also be revamped to make them justifiable and durable. The administration will also look at adapting to climate and overall environment change. It will also look to properly deal with environmental damage.
The government expects that with the 2012 budget there will be proper co-ordination among the various governmental departments and thus increased efficiency. The government will also aim at being more transparent and accountable and make sure that there is more participation by people in the overall process.