Duterte OKs proposed P3.757-T cash-based budget for 2019 – Diokno

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President Rodrigo Duterte (FILE PHOTO)

Metro Manila (CNN Philippines, July 10) — President Rodrigo Duterte has approved the proposed P3.757 trillion cash-based budget for 2019.

Budget Secretary Ben Diokno said Tuesday Duterte gave his go-signal during the Cabinet meeting on Monday.

The Duterte administration has shifted from an obligation-based to cash-based budget early this year. This shift will ensure that agencies will spend their respective budgets within the year to eliminate underspending.

The Department of Budget and Management (DBM) said in a statement, "With annual cash-based appropriations, agencies can only incur contractual obligations and disburse payments for goods delivered and services rendered and inspected within the fiscal year, with an extended payment period of three months. This will effectively limit agencies to submit budget proposals reflecting payment of goods and services that will actually be delivered for the year."

"This shift is expected to quicken program delivery, as well as strengthen the focus and accountability of government as target outputs of government programs become more clearly linked to their appropriated budget," the DBM added.

The DBM will submit the proposed 2019 national budget to Congress on the day of Duterte's third State of the Nation Address on July 23.

CNN Philippines correspondent Rex Remitio contributed to this report.