Government BudgetMain article: Fiscal policy of the Philippines
The national government budget for 2012 has set the following budget allocations:
|Budget Allocation||Millions of Pesos
|Millions of US Dollars
|Department of Education||₱238,800||$5,513.7||13.15|
|Department of Public Works and Highways||126,400||2,918.5||6.96|
|Department of National Defense||108,100||2,496.0||5.95|
|Department of Interior and Local Government||99,800||2,304.3||5.50|
|Department of Agriculture||61,400||1,417.7||3.38|
|Department of Social Welfare and Development||48,800||1,126.8||2.69|
|Department of Health||45,800||1,057.5||2.52|
|Department of Transportation and Communications||34,700||801.2||1.91|
|State Universities and Colleges||25,800||595.7||1.42|
|Department of Finance||23,600||544.9||1.30|
|Department of Environment and Natural Resources||17,500||404.1||0.96|
Read more about this topic: Economy Of The Philippines
Other articles related to "government budget, budget, government":
A government budget is a document that is often passed by the legislature, and approved by the chief executive-or president. For example, only certain types of revenue may be imposed and collected. Property tax is frequently the basis for municipal and county revenues, while sales tax and/or income tax are the basis for state revenues, and income tax and corporate tax are the basis for national revenues.
The two basic elements of any budget are the revenues and expenses. In the case of the government, revenues are derived primarily from taxes. Government expenses include spending on current goods and services, which economists call government consumption; government investment expenditures such as infrastructure investment or research expenditure; and transfer payments like unemployment or retirement benefits.
Budgets have an economic, political and technical basis. Unlike a pure economic budget, they are not entirely designed to allocate scarce resources for the best economic use. They also have a political basis wherein different interests push and pull in an attempt to obtain benefits and avoid burdens. The technical element is the forecast of the likely levels of revenues and expenses.
... The year 2004 was the first year of budget deficit after three consecutive years of budget surpluses, which in turn had followed four years of deficits between 1997 and 2000 ... The approved 2007 state budget calls for revenues of US$926 million and expenditures of US$954 million, leaving a deficit of US$28 million ...
... Budget support is a particular way of giving international development aid, also known as an aid instrument or aid modality ... With budget support, money is given directly to a recipient country government, usually from a donor government ... Budget support differs from other types of aid modalities such as Balance of payments support, which is currently mainly the domain of the International Monetary Fund ...
... original paper by Kaldor, no formal attempt had been made in that period to introduce the government sector and its ensuing complications ... Steedman showed that if the public sector was considered, under the assumption of budget equilibrium, the long run solutions were consistent with Pasinetti’s solutions, and ... again in 1989 showing that -whether the government’s budget was in deficit or surplus- the main results of the Cambridge equation hold ...