NextGen Day

Aquilino Pimentel III, the Senate Minority Leader, praised the Marcos administration on Thursday for establishing a Medium Term Fiscal Framework (MTFF), which is intended to direct budgeting for the following six years.

The administration was praised by Pimentel for being the first to present the foundation that underpins its program for economic growth.

“It makes everything logical. I, therefore, want to congratulate this administration for being the first to publicly develop a medium-term fiscal framework and even have both Houses of Congress approve it “During his interrogation of Senator Sonny Angara, who was on the floor defending the Office of the President (OP) budget, Pimentel said.

Amenah Pangandaman, the secretary of the Department of Budget and Management, formerly referred to the MTFF as the “Agenda for Prosperity” of the Marcos administration.

“We have outlined our nation’s economic goals using this framework, including 6.5 to 7.5 percent real GDP (gross domestic product) growth in 2022, a 9 percent or single-digit poverty rate by 2028, a 3 percent national government deficit to GDP ratio by 2028, and a national government debt-to-GDP ratio of less than 60 percent by 2025. These goals have informed the creation of our National Expenditure Program “explained Pangandaman.

The OP’s Confidential and Intelligence Funds (CIFs), which total PHP4.5 billion and makeup 65% of its planned Maintenance and Other Operating Expenses, were to be reduced, Pimentel said.

Assuming that such a move would only be rejected, Pimentel remarked, “Siguro (Maybe) in due time, I will propose a change to limit the CIF being given to the Office of the President.”

The Senate just approved the PHP8.9 billion total amount that the OP is recommending for next year.

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