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PNoy okays use of P32-B savings, profit for growth

27 December 2012 No CommentEmail This Post Email This Post

MANILA – President Benigno S. Aquino III has approved P32.29 billion for quick-disbursing priority programs and projects that are expected to bolster domestic economic growth in the remaining days of 2012 as well as in the first few weeks of 2013.

In a statement, Budget and Management Secretary Florencio B. Abad said the funds will come from savings of P28.9 billion incurred from unreleased 2011 and 2012 appropriation; as well as P4.4 billion in remaining windfall revenues (Unprogrammed Fund) from dividends by government corporations (GOCCs).

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