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Philippine president set to sign 2021 national budget Today
Philippine president set to sign 2021 national budget Today

In a prestigious turn of events, President Rodrigo Duterte is scheduled to sign the P4.5-trillion 2021 national budget bill into law on Monday, December 28, according to Malacañang. The signing of the budget prior to the end of the year will ensure that there will be no re-enactment of the 2020 budget, which was not formulated to address the COVID-19 pandemic. One of the biggest considerations of lawmakers in crafting the budget is funds to counter the pandemic, specifically the roll-out of vaccines.

The approval of the national budget, a tenth greater than that of 2020, seeks to return what was formerly one of Asia's fastest expanding economies back to growth and help contain coronavirus infections.

The budget enables the country to heal, rebuild and resume the economy's upward trajectory, Duterte said after its signing. "This coming year, we intend to recover as one nation," he said.

The education sector and public works secured 752 billion pesos and 696 billion pesos respectively, accounting for nearly a third of the budget. Budget for the health ministry was at 210 billion pesos while defense receives 206 billion pesos.

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