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The Senate has agreed to carry over last year's budget to this year since Congress does not have enough time to review and pass the government's proposed P725-billion appropriation bill for 2001.
The plan to reenact the 2000 General Appropriations Act (GAA) is supported by President Gloria Macapagal-Arroyo, Senate finance committee chairman John R. Osmena said yesterday.
The solon told BusinessWorld that he spoke with the President and Finance Secretary-designate Alberto Romulo last night, and both reportedly agreed that Congress did not have enough time to enact a new budget law.
Mr. Osmena also said an additional P2.45 billion will just be appropriated for the senatorial and local elections in May. Meanwhile, all government agencies will get an appropriations increase as soon as the new Congress enacts a new budget law in July.
Under the Constitution, if Congress fails to enact a new budget for a particular year, the budget for the preceding year is automatically reenacted.
Mr. Osmena sponsored in plenary yesterday the budget for the Commission on Elections (Comelec), following a certification from the National Treasury that P2.45 billion is now available. The certification was issued by National Treasurer Leonor M. Briones on Tuesday.
The finance committee chief said Congress does not have time to debate on a new appropriations bill, noting that it barely has two weeks before the …