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DOF budget gets House committee approval

The House committee on appropriations has endorsed for approval the P21.3-billion budget of the Department of Finance (DOF) and its attached agencies for next year.

MB FILE - Department of Finance logo (2016.mb.com.ph)

MB FILE – Department of Finance logo
(2016.mb.com.ph)ce

House appropriations subcommittee chairperson and Camarines Sur Rep. Luis Raymund Villafuerte said the total DOF budget and its attached agencies will increase by 16 percent in 2017 from P18.413 billion this year.

“Funding the budget of the DOF, which is the government’s main agency in charge of revenue generation, is also important in keeping on track the Duterte administration’s long-term goal,” Villafuerto said.

The period of interpellation on the 2017 DOF budget plan was finished on Monday night.

The budget of the DOF proper notably dropped from P2.6 billion in 2016 to P1.6 billion in 2017, following the cancellation of the plan to build a new building for the Department, Villafuerte said.

As for the DOF-attached agencies, the BIR has the largest allocated budget with the proposed amount of P8.6 billion, which is only 0.5 percent of its program P1.8-trillion collections in 2017.