Lesson learned? Luis Campos hopes 2020 nat’l budget would be passed without delay
Makati City Rep. Luis Campos Jr. hopes the incoming 18th Congress will not delay the passage of the 2020 national budget, lest the “costly” crisis involving the 2019 General Appropriations Act be repeated.
Campos, a deputy minority leader, noted that the four-month congressional holdup in the passage of the 2019 budget contributed to the slower-than-expected economic growth in the first quarter.
The delay was due to bicameral bickering over controversial pork barrel allocations.
“When the biggest consumer – the national government – is unable to spend dynamically due to a deferred budget, the entire economy suffers,” Campos said.
The first-quarter Gross Domestic Product expanded by 5.6 percent year-on-year, below the widely expected 6.0 percent, largely owing to the slower increase in public sector spending.
Government spending rose by only 7.4 percent in the first quarter this year, down from the 13.6 percent growth in the first quarter of 2018, on account of the stalled budget.
Malacañang is expected to submit to Congress the proposed General Appropriations Act for 2020 within 30 days from the opening of the regular session on July 22.