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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 680 -
DIRECTING THE PREPARATION OF AN INTEGRATED ANNUAL FISCAL PROGRAM FOR
THE NATIONAL GOVERNMENT |
The Secretary of Finance
The Secretary of Economic Planning
The Secretary of Public Works, Transportation
and Communications
The Secretary of Public Highways
All Other Concerned
WHEREAS, the fiscal program of the national government in any one year consists of revenue measures and appropriations;
WHEREAS, traditional practice has been for these elements of the fiscal program to be separately considered by the Legislative body, a practice that is not always conducive to a comprehensive review of the national fiscal program;
WHEREAS, integrated Legislative consideration of the various components of the national fiscal program is necessary to ensure consistency in action and unity of objective;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, do hereby issue the following instructions:
1.
The Development Budget Coordination Committee (DBCC) of the National
Economic and Development Authority shall study and recommend to the
President the aggregate magnitudes of national revenue and expenditure
for CY 1979 as speedily as possible, in accordance with the budget
calendar and taking into specific consideration the objectives and
priorities embodied in the national economic development plan.
2. In its
studies, the DBCC and the Secretary of Finance shall formulate and
recommend any new revenue measures that may be necessary for the
incoming budget year.
3. The fiscal
program of the national government shall be simultaneously submitted to
the Interim Batasang Pambansa on or before August 23, 1978, consisting
of two budgetary bills: (a) The General Appropriations Bill, and (b)
new revenue bills. These Bills shall constitute annexes to the
President's Budget Message which shall be prepared in accordance with
the provisions of P.D. No. 177.
4. Revenue
bills shall prepared by the Secretary of Finance and the General
Appropriations Bill by the Commissioner of the Budget.
5. The
recommendations embodied in these submissions shall be determined on
the basis of adequate studies and hearings as may be necessary, to be
submitted to the President for consideration and approval, and
discussed at a Cabinet meeting prior to the submission to the Interim
Batasang Pambansa, in consonance with the provisions of the
Constitution.
6. The same
approach and procedure shall be followed for budgets of subsequent
years.
DONE in the City of Manila, this 16th day of March, in the year of Our Lord, nineteen hundred and seventy-eight.
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