Philippine President Gloria Macapagal Arroyo has signed the 2009 national budget for increased public spending that will cushion the effect of the global economic slump.
This year's budget, valued at 1.414 trillion pesos (about 29 billion USD), will direct resources to activities that will spur the economy, the Philippine news agency (PNA) quoted Department of Budget and Management Secretary Rolando Andaya Jr. as saying on Mar. 13.
“It will be targeted spending that will address present concerns while investing for the future,” the official added.
Among the government agencies, the Department of Education gets the biggest slice of “the pie” with 158.2- billion pesos, an increase of 20 billion pesos than what it was programmed to receive last year, according to PNA./.