In his Budget Message for FY 2017, the President wrote that this year’s budget will be used as a “tool for equitable progress”. It will finance programs and projects that would ensure decent living conditions and better access to economic opportunities especially of the poorest and the marginalized in society. The 2017 budget should be instrumental in achieving the administration’s 10-point socio-economic development agenda which includes clear investment priorities such as infrastructure, agricultural and rural enterprise productivity and rural tourism, human capital development, social protection, and peace and order through a professional police and military force.
The General Appropriations Act (Republic Act No. 10924) for 2017 authorizes the national government (NG) to spend a total of P3,350.0 billion or 21% of the country’s gross domestic product (GDP). It is higher by P348.2 billion or 11.6% than in 2016 but not significantly different when seen relative to the performance of the economy. The 2016 budget of P3,001.8 billion (if fully spent) is equivalent to 20.7% of GDP. Taking away the effect of inflation on the budget, the real growth rate of the 2017 budget is lower at 8%.>>read complete document