P1.64  TRILLION  FOR  GMA'S  10-POINT  AGENDA

MALACANANG, January 22, 2005 (OFFICE OF THE PRESS  SECRETARY) Malacañang said today that about P1.64 trillion or nearly three-fourths of the outlays proposed in the P2.23-trillion Medium-Term Public Investment Program (MTPIP) will go to programs and projects under President Gloria Macapagal-Arroyo’s 10-Point Agenda to alleviate poverty, spur economic growth, and enhance democracy and governance.

"The MTPIP presented to the President and the Cabinet recently shows that the government shall allocate the funds to make our development goals a reality, Secretary of the Cabinet Ricardo L. Saludo said. The P1.64-trillion total allocation underlines the need to boost revenues and ensure funding for our pro-poor agenda."

The MTPIP conforms with the government’s six-year expenditure program and fiscal targets aimed at balancing the budget by 2010. The list of the MTPIP estimates responsive to the 10-point agenda of the President, which amount to P1.643 trillion or 73.5 percent compared to the total MTPIP of P2.235 trillion follows:

1. 10 million jobs---P312.9 billion

Strengthening government programs to support three million entrepreneurs and small and medium enterprises by tripling loans to MSMEs ---P63.1 billion. Development of two million hectares of land for agri-business ---P249.8 billion.

2. Education for All---P140.9 billion

Construction of at least 6,000 classrooms annually, provision of books and computers, and provision of high school scholarships or financial assistance---P140.9 billion

3. Balance the National Budget ---P17.9 billion

Fiscal strength: Reduce the CPSD-to-GDP ratio from 6.7 percent to 1 percent of GDP in 2010; reduce the ratio of public sector debt-to-GDP from 136 percent in 2004 to 90 percent in 2010 ---P12.7 billion. Financial sector: Achieve a savings-to-GDP rate of 25-30 percent, manage inflation, promote stronger, stable, and deeper financial system and rationalize government pension and retirement schemes ---P5.2 billion.

4. Transportation Networks and Digital Infra--- P295.7 billion

Transportation Networks: Strengthening of the East, Central and Western Nautical Highway--- P291.6 billion. Digital Networks: More efficient and effective sharing of network among all branches of government---P4.1 billion.

5. Provision of Power and Water to all Barangays---P643 billion

Power generation: Total electrification of all barangays ---P241.5 billion. Water supply and water management: Covering all barangays nationwide and 130 has. of lands for watershed---P401.5 billion.

6. Decongestion of Metro Manila ---P128.3 billion.

Transfer of national agencies outside Metro Manila ---P1.8 billion. Transportation network to speed up traffic: North and Southrail projects, MRT-LRT loop, LRT Line 1 Ext., LRT 2 Phase 2, SLEX, and STAR--- P126.5 billion.

7. Development of Clark and Subic--- P84.2 billion

Implementation of Subic-Clark-Tarlac Expressway and Diosdado Macapagal International Airport and Subic International Port ---P84.2 billion.

8. Automation of the Electoral Process ---P5.9 billion

Automated elections starting 2007--P5.9 billion

9. Peace Agreement with Rebel Groups --- P14.9 billion

Peace Process: Rehabilitation and reintegration of former rebels, implementation of Madrasha Educational Program, Various infra and social projects, and others ---P14.9 billion.

10. Closure of Wounds caused by division due to EDSA 1,2, and 3 (no allotment)


Reported by: Sol Jose Vanzi

© Copyright, 2005  by PHILIPPINE HEADLINE NEWS ONLINE
All rights reserved


PHILIPPINE HEADLINE NEWS ONLINE [PHNO] WEBSITE