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Dissecting Data: The Philippines under a reenacted budget

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Edson Joseph Guido, ABS-CBN Data Analytics

<figure class="op-interactive"><div id="IVS_ABS_Body_Video_1_Container"> <ivs-player id="IVS_ABS_Body_Video_1" data-ivs-spid="3001339" data-ivs-key="e8c22c015ca9eafa76f1e3edfa03c603" data-ivs-vid="1388980" data-ivs-floating="1"></ivs-player> <script src="https://player.ivideosmart.com/ivsplayer/v4/dist/js/iframe-parent.js"></script> <script src="https://player.ivideosmart.com/ivsplayer/v4/dist/js/loader.js"></script> </div></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div><p>MANILA - <strong>(UPDATE)</strong> The national budget was last reenacted in 2010 for 38 days under House Speaker and former president Gloria Macapagal-Arroyo. </p><p>In 2001, 2004 and 2006, the government operated under the old budget the entire year.</p><p>This year, lawmakers missed the deadline for the first time in nearly a decade as the budget under former president Benigno Aquino III was enacted on time.</p><p>Excluding 2001, 2004 and 2006, the longest period the government operated under the previous year&#x27;s budget was in 2003 for 112 days. As of March 14, the country is operating on the previous year&#x27;s budget for 72 days.</p><div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2019/business/03/14/20190314-reenacted-budget-chart-1.jpg"/><figcaption>National Budget status from 2000 to 2019. <em>Source of raw data: Department of Budget and Management, Philippine Statistics Authority Processed by: ABS-CBN Data Analytics</em></figcaption></figure></div><p>Economic growth was stable and robust under the Aquino administration when the budget was enacted on time. </p><p>But there is no proven link between days operating under a reenacted budget and the country&#x27;s gross domestic product growth (GDP), during the period of 2000 to 2010. </p><p>It is important to note that 2004 was an election year. This trend shows that during election years, GDP growth was higher. The year 2019 is also an election year.</p><div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2019/business/03/14/20190314-reenacted-budget-chart-2.jpg"/><figcaption>Reenacted budget vs GDP growth. <em>Source of raw data: Department of Budget and Management, Philippine Statistics Authority Processed by: ABS-CBN Data Analytics</em></figcaption></figure></div><div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2019/business/03/14/20190314-reenacted-budget-chart-3.jpg"/><figcaption>Data showed that there is no clear relationship between government spending growth and reenacted budgets. <em>Source of raw data: Department of Budget and Management, Philippine Statistics Authority Processed by: ABS-CBN Data Analytics</em></figcaption></figure></div><p>However, data showed that infrastructure outlay as a percentage of GDP are higher in years when the budget is enacted on time. </p><div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2019/business/03/14/20190314-reenacted-budget-chart-4.jpg"/><figcaption>Spending (Infrastructure outlays as percentage of GDP). <em>Source of raw data: Department of Budget and Management, Philippine Statistics Authority Processed by: ABS-CBN Data Analytics</em></figcaption></figure></div>

<p>In 2001, 2004 and 2006, the government operated under the old budget the entire year.</p>

In 2001, 2004 and 2006, the government operated under the old budget the entire year.

Dissecting Data: The Philippines under a reenacted budget

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Dissecting Data: The Philippines under a reenacted budget

Edson Joseph Guido,

ABS-CBN Data Analytics

Published Mar 14, 2019 01:17 PM PHT

|

Updated Mar 14, 2019 05:33 PM PHT

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Dissecting Data

budget

national budget

economy

GDP

spending

Benigno Aquino

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