Aquino Signs 2012 National Budget

President Benigno Aquino III on Thursday, December 15, officially signed Republic Act (RA) 10155 in the presence of MalacaƱang officials, cabinet members, senators, congressmen and the media at the Palace.

In his speech, President Aquino said the signing of the P1.816 Trillion national budget for 2012 into law is the earliest since democracy was restored in 1986.

He said more than 30% of the 2012 budget, amounting P568.6 billion, is allocated for the social services sector.

Aquino added that the Department of Education (DepEd) will get a P238.8 billion budget next year, the highest budget given so far to the education department. He also said the budget for state colleges and universities has been increased.

A health insurance subsidy amounting P5.2 million will also be provided to poor and underprivileged beneficiaries. The budget also includes funds intended for rural health facilities and health-related services.

The Department of Agriculture (DA) will get P53.3 billion in 2012, the president added.

President Aquino cited RA 10155, also known as General Appropriations Act (GAA) for 2012, as a “results-focused budget” to improve economic growth and deliver direct and substantial benefits to the Filipino people.