National Budget

• Upon approval of the Congress the National Budget is known as General Appropriations Act

• Fiscal Year – starts on July 1 and ends on June 30 of the next year

National Budget Cycle: National Budget Cycle:

• Preparation- the Executive prepares the proposed National Budget

• Legislation- where the Congress authorizes the General Appropriations Act• Execution- agencies utilize their approved budgets and • Accountability-the executive monitors and evaluates the use of the budget (COA)

THE BUDGET CYCLE

2012 National Budget P1.816 TRILLION*10.4% higher than the 2011 budget *16.5% share of the country’s GD)

P770.5 Bill ion

The direct share of the regions in the national budget significantly increased by 24 percent to P770.5 billion.Luzon will still get the largest share of the total regionalized budget at P399.5 billion, by virtue to size and population.

The shares of Visayas and Mindanao — which have a higher number of poor families  – increased significantly by 26.2 percent ti P159.2 billion, and by 28.5 percent to P211.9 billion, respectively.

The non-regionalized portion of the budget amounting to P1.045 trillion will go to the central and nationwide programs.