Targets won't be revised as Congress fails to pass budget: Pernia
The National Economic and Development Authority (NEDA) on Thursday said there will be no revision of targets even after Congress failed to pass the 2019 budget this year.
The Duterte administration will operate under a re-enacted budget in early 2019, said Socioeconomic Planning Secretary Ernesto Pernia in a media briefing in Pasig.
“For a very short period of time, couple of weeks, three weeks. That shouldn’t really be that kind of adverse effect in the economic growth,” added Pernia.
He said target growth rate for 2019 is between seven to eight percent.
Even with a re-enacted budget, Pernia said infrastructure spending will continue as Congress is expected to pass the budget by January.
“I don’t think there will be a break in the Build, Build, Build program. And besides, I think by January, middle of January - the conclusion for 2019 would have reach the verdict,” he said.
He said majority of the members of Congress do not want to “displease” President Rodrigo Duterte.
“I don’t think (that) it’s really going to have much setback in terms of legislation,” he said.
In his speech, Pernia urged the Congress to pass the administration’s budget “at the soonest possible time”.
“We need this to make sure that we are on track of meeting our development targets,” he added. Ella Dionisio/DMS
