DBM submits P4.5-T 2021 budget to Congress

The Department of Budget and Management (DBM) submitted a proposed P4.506-trillion budget for 2021 to Congress on Tuesday.

This proposed National Expenditure Program (NEP) is 9.9% higher than the current year's budget, representing 21.8% of the country's GDP.

According to the DBM and DOF, over half or 56.89% of the expenditures will be funded by tax collections, with revenue collections expected at P2.717 trillion in 2021, equivalent to 13.2% of the GDP.

The proposed budget aims to reset, rebound, and recover from the pandemic by improving healthcare systems, ensuring food security, creating jobs, enabling a digital government and economy, and building community resilience.