DBM 6 supports approval of Fiscal Responsibility Bill
The enactment of the Fiscal Responsibility Bill is long overdue and President Benigno Aquino’s III pushing for its approval by the 15th Congress is a welcome development, a top regional budget official said.
Budget and Management Regional Director Alfonso Bedonia Jr. said the bill was first endorsed in the 13th Congress but it only became part of the Congress’ archive.
In a Philippine News Agency report, Bedonia said the passing of laws without a corresponding fund source is what causes the country’s budget depletion.
He added he agrees with the President that there has to be a clear source of fund before the passage of a legislation.
“It is really a welcome note for us,” he said, although he cited that President Aquino’s State of the Nation Address has created a lot of work for the DBM.
Nonetheless he said Aquino has showed his resolve to address the country’s problems, especially in trying to keep fiscal balance.
Meanwhile, Bedonia said the DBM will ask the support of the media, civil society groups, professional groups and the academe in the government’s budgeting process.
He said this has been the order of Secretary Florencio Abad although they are just waiting for a circular which is still being firmed up by the budget oversight committee composed of the National Economic and Development Authority, Department of Finance, and the DBM.
Initially, Bedonia said they are updating their regional website to make available the pronouncements of every agency to the public through the media and the civil society group to promote transparency.
A training will also be conducted for these sectors for full understanding of the budget process.
