As presented by Budget Secretary Florencio “Butch” Abad, the cabinet is eyeing a proposed budget of P2.606 trillion ($60 billion) for 2015, 15% higher than the 2014 budget.
Highlights of the proposed budget 2015:
- Conditional Cash Transfer increase from P62.6 billion ($1.44 billion) to P78 billion ($1.79 billion) due to an increase in coverage from 4.3 million households to 5 million households, according to the National Household Targeting System
- Increase in National Health Insurance Program from P35.3 billion ($810 million) to P37.2 billion ($850 million); increase in coverage from 14.7 million to 15.4 million beneficiaries
- Increase in provision of basic educational facilities (classrooms, water and sanitation) from P44.6 billion ($1.02 billion) to P52.7 billion ($1.21 billion)
- National roads and bridges program of DPWH increased from P130.4 billion ($2.99 billion) to P186.6 billion ($4.28 billion)
- Tourism Infrastructure development increased from P14.7 billion ($340 million) to P20 billion ($460 million). (This is after an increase in international tourists from 6.8 million to 8.2 million, and domestic tourists from P47.7 million to P51.7 million.)
- Flood control and drainage projects of DPWH increased from P34.8 billion ($800 million) to P38.6 billion ($890 million)