Aquino to sign 2012 budget by December 15

President Benigno Aquino III will sign the P1.8-trillion budget for 2012 by December 15 and its allotments for different programs will be given by January next year.

Aquino said, "The new term is disaggregrated items – there is an allocation for every project... from the start." The president added that he will have a discussion first with the economic leaders before they release the budget.

"The expenditures for a certain project must be monitored from the onset so that in case of any delay, it can be monitored and corrected as soon as possible," said Pres. Aquino. He also stressed that his administration is preparing as best as they can.

On the other hand, he also appreciated and proudly acknowledged that the country is doing major exports on electronics and semiconductors. "We dominate the market already even in Iran... I understand we export 30 percent of our production there."

However, he is not changing the priorities, as he said "The very first problem that I had during the campaign was jobs – it is still the economy that is still the priority. However, these things do not exist in a vacuum, they all interact, a judicial system that doesn't promote stability and certainly does not enhance the economic environment." — ARA