2008 budget allots P49.4-B for gov't employees, retirees
by A. Lumaque
Roxas City (5 September) -- About P49.4 billion has been allocated from the P1.227 trillion proposed national budget for the increase in payroll, premiums, and pension of government employees and retired personnel.
"This will allow the government to hire more employees and increase the pay of existing ones," said the Arroyo administration's economic team managers in a dispatch about the national budget.
The increase will be used to hire 10,000 new teachers, 1,661 new school principals, 3,500 policemen and 500 jail guards.
Another round of salary increase, planned for next June 2008 has also been budgeted, the dispatch added.
Last June, Pres. Arroyo signed Executive Order No. 611 for the ten percent (10%) increase over the basic monthly salaries of civilian government personnel and a P30 and P120 per month increase in the subsistence allowance and hazard pay, respectively, of military and uniformed personnel effective July 1, 2007.
"The government's 2008 proposed budget shows its optimism on the country's economic growth. It is based on a real GDP (Gross Domestic Product) growth of 6.1 to 6.8 percent, inflation rate of between three and four percent and a foreign exchange forecast of 46 to 48 pesos to a dollar," a Malacaņang statement said.
The government's proposed national budget will be totally supported by internal revenues. It is a budget that will not have a single borrowed peso, for government is ushering in an era of balanced budgets and even budget surpluses, the statement added, noting that it has "tamed the deficit and trimmed the debt because government has tapped its potentials." (PIA) [top]