Removing Regional Disparity in Infrastructure Development - A Probe into the Proposed 2008 Budget

1.1 The national budget is a plan which spells out the socio-economic development agenda of the government and reflects its highest level of political commitment in a given year. As such, it identifies sources of revenue and allocates expenditures to government programs based on the priorities in the development agenda. For 2008, the proposed total expenditure program amounts to P1.227 trillion-8 percent or P91 billion higher than this year’s budget of P1.136 trillion. The proposed expenditures will be funded through revenues projected at P1.236 trillion -P1.11 trillion in tax revenue and P127.3 billion in non-tax revenue. Out of the P1.227 trillion budget proposal, P770.7 billion of New General Appropriations is proposed for enactment in 2008. A standby authority for P114.5 billion of Unprogrammed Appropriations will be provided to be released only when revenue collections exceed revenue targets.