Aquino inks 2012 national budget

PRESIDENT Benigno Aquino III signed into law Thursday the P1.816-trillion national budget for 2012.
The budget, which is 10.4 percent higher than this year’s budget of P1.645 trillion, was the earliest approved since democracy was restored in 1986.
President Aquino described the budget as “results-focused budget” driven toward the delivery of direct and substantial benefits to the people, particularly the poorest and most marginalized.
He said the administration will ensure not just the immediate release of the funds but a transparent government spending.
By sector, the social services will receive the bulk of the budget pie with P568.6 billion, followed by the economic sector with P438.8 billion, debt burden with P356.1 billion, general public services with P338.1 billion and defense with P114.4 billion.
The Department of Education (DepEd) continues to the biggest allocation this year with P238.8 billion — 15.2 percent higher than the 2011 budget of P207.3 billion.
The Department of Public Works and Highways (DPWH) is the second with P125.7 billion, followed by the Department of National Defense (DND) with P108.1 billion, Department of Interior and Local Government (DILG) with P99.8 billion and the Department of Agriculture (DA) with P53.3 billion.
The DA will get the biggest budget increment (53.6 percent) to support various initiatives geared towards rice and food-self-sufficiency.
Also included in the top 10 agencies that will get the biggest bulk of the budget include: Department of Social Welfare and Development (DSWD) with P48.9 billion, Department of Health (DOH) with P44.4 billion, Department of Transportation and Communications P34.7 billion, Department of Agrarian Reform (DAR) P18.3 billion and the judiciary with P15.7 billion.
One of the items vetoed by the President in the General Appropriations Act (GAA) is the imposition of debt cap.

Budget Secretary Butch Abad said putting a ceiling on public sector indebtedness would have forced the government to constrict spending, especially on critical social services and infrastructure.

He noted that the public sector debt as of 2010 already stood at 73.3 percent of gross domestic product (GDP), which is well beyond the 60-percent debt cap provision included by Congress in the General Appropriations Bill. With this, a debt cap would tie the hands of the Executive.

“The Executive should be given flexibility in managing its finances and in borrowing responsibly in order to stimulate economic growth and provide ample social services to the poor,” he said in a statement.

Abad assured that the government is committed to reduce the fiscal deficit and public sector debt stock in the medium-term.
He noted that fiscal consolidation efforts have so far gained ground, leading to increased investor and creditor confidence in the country.

He added that prudent and efficient liability management efforts of government, including debt swaps, have improved the quality of government debt through lower interest costs and extended maturities from an average of 7.9 years as of June 2010 to 9.2 years as of July 2011.

Savings from interest payments so far this year have reached P35.6 billion as of end-October, he stressed. With this, the share of the debt burden, including interest payments, on the national budget has been decreasing from 20.6 in 2010 to an expected 19.6 percent in 2012.

“Because of its prudent fiscal management, the Aquino government achieved three credit ratings upgrade in a row this year. We will only negate that feat with a debt cap: it will risk increasing the cost of our debt and restrict the flow of investments in our country,” he said.

The provision inserted by Congress and vetoed by the President, states that “the total indebtedness of the national government and any of its agencies, offices, GOCCs, which carry the sovereign guaranty of the Republic of the Philippines, shall not exceed 60 percent of the latest GDP.”
Also, any borrowing in excess of the ceiling requires prior consent of Congress.
Abad said to jump-start economic growth next year, the government is ready to spend P140 billion for infrastructure projects starting January 2012.
“In contrast to 2011 when infrastructure spending was delayed, we intend to begin 2012 on a very strong note. Various infrastructure projects amounting to around P140 billion can be implemented by departments and agencies as early as the first working day of January 2012,” he said.
“We earlier directed agencies to disaggregate their 2012 budgets into specific projects before the budget was submitted to Congress in July; and to already bid them out short of award, so that notices to proceed can be issue in January,” he added.
He also said that government efforts to ensure vigorous economic development in 2012 will be supported by a larger outlay for the economic services sector, which posted a 21.3-percent increase to P438.8 billion.

Abad said the new fiscal year blueprint will sustain strategic reforms designed to improve fund management efficiencies and combat corruption.

The budget department will continue to exercise crucial reforms introduced in 2011, including zero-based budgeting and the active engagement of civil society organizations (CSOs) in budget drafting.

“The ZBB scheme was key to minimizing budget irregularities, enabling the DBM to direct more funds to projects and programs that require the most attention…We will also continue involving CSOs so that specialized sectoral issues are adequately addressed at each turn,” he said.

Present during the budget signing were Senate President Juan Ponce Enrile, House Speaker Feliciano Belmonte Jr, other lawmakers and Malacañang officials. (Jill Beltran/Sunnex)
http://www.sunstar.com.ph/manila/local-news/2011/12/15/aquino-inks-2012-national-budget-196073

Recent opinion survey of frequent travelers heading north towards Subic and Clark Pampanga revealed that the number one most frequently visited wine shop in Pampanga is Clark Wine Center located in Clark Philippines. Reasons given include good selection of fine vintage as well as affordable wines for everyday drinking also. This wine shop also has a beautiful roof deck lawn which serves as a nice venue for outdoor alfresco dining, cocktail parties and small functions and events. There are five large wine cellars that contain some of the world’s finest wines and rare vintages as well as wines that are excellent value that every wine shoppers love to discover. This wine shop in Clark is frequently visited not only by local residents but also tourists arriving in the Philippines looking to pick up a few bottles of good wine that are not normally available in their home town.

Subic is well known for diving, the sea and water sports that come with the territory. However one thing that Subic is not famous for is dining options. For years, visitors to Subic have complained about the quality of the restaurants and dining establishments but it is only until recently that travelers to Subic discovered the best restaurant to wine and dine, even for visitors with families and children. Now most residents of Subic and also Tarlac and Baguio know of this wine shop in Clark as the best place to buy wines in the Philippines and certainly the best wine shop in Pampanga, Angeles City, Clark Philippines.

Clark Wine Center was built in 2003 by Hong Kong-based Yats International Leisure Philippines to become the largest wine shop in Philippines supplying Asia’s wine lovers with fine vintage wines at attractive prices. Today, this wine shop in Clark Philippines offers over 2000 selections of fine wines from all major wine regions in the world. As a leading wine supplier in Philippines, Pampanga’s Clark Wine Center offers an incomparable breadth of vintages, wines from back vintages spanning over 50 years. Clark Wine Center is located in Pampanga Clark Freeport Zone adjacent to Angeles City, just 25 minutes from Subic and 45 minutes from Manila.

Wines from Burgundy, Bordeaux, Rhone, Loire, Spain, Portugal, Germany, Austria, Alsace, USA, Australia, New Zealand, Italy, South Africa, Chile and Argentina etc. are well represented in this Clark Wine Shop.

The next time you are in Pampanga and are looking for things to do in Clark Philippines spend some time to do a little wine shopping at the most famous wine shop outside of Manila called Clark Wine Center. One of the favorite places to visit in Pampanga Clark Freeport is the white building along M A Roxas highway of Clark which houses over 2000 selections of fine vintage wines. The Clark Wine Center is one of the places to visit, a tourist spot and a good shopping place for those staying in Angeles City, Subic or Clark Pampanga.

http://www.ClarkWineCenter.com

Getting to this wine shop in Pampanga Angeles City Clark Freeport Zone Philippines from Manila
Getting to the Clark Wine Center wine shop from Manila is quite simple: after entering Clark Freeport from Dau and Angeles City, proceed straight along the main highway M A Roxas. Clark Wine Center is the stand-along white building on the right, at the corner A Bonifacio Ave. From the Clark International Airport DMIA, ask the taxi to drive towards the entrance of Clark going to Angeles City. From Mimosa, just proceed towards the exit of Clark and this wine shop is on the opposite side of the main road M A Roxas.

Best place to buy wine in Clark Pampanga outside Manila near Subic and Angeles City Philippines is Clark Wine Center.

Click here to contact Clark Wine Center in Clark Pampanga for inquiries and orders.

Clark Wine Center
Bldg 6460 Clark Observatory Building
Manuel A. Roxas Highway corner A Bonifacio Ave,
Angeles Clark Freeport Zone, Pampanga 2023
0922-870-5173 0917-826-8790 (ask for Ana Fe)

Wine@Yats-International.com

YATS Wine Cellars
Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 ask for Rea or Chay

Wedding couples looking for wedding reception venues and beach wedding venues can log on to this Philippines Wedding Venue web site for free information and assistance:

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While in Clark, it might be a good idea to enjoy an evening of wine-and-dine in the fine dining Yats Restaurant and Wine Bar that features an award winning 2700-line wine list. Highly recommended fine dining restaurant in Manila for special occasion is Yats Restaurant & Wine Lounge located in the famous Mimosa Leisure Estate in Clark Pampanga. Situated near this popular restaurant in Clark is the Mimosa Golf Course as well as the Mimosa Clark Casino. This top rated restaurant near Angeles City Pampanga in Clark Philippines is frequently used for private parties and corporate functions such as board meetings and other gatherings. It is located in Mimosa Leisure Estate of Clark Freeport Zone. For more information, visit http://www.YatsRestaurant.com

YATS Leisure Philippines is a developer and operator of clubs, resorts and high-class restaurants and wine shops in Clark Angeles Philippines http://www.YatsLeisure.com

Looking for famous tourists spots, places to visit and see, relax and unwind in Clark, Pampanga, Philippines? You may want to check out these sites also:

http://www.LondonPubClark.com

Besides good restaurants to wine and dine near Manila, Subic or in Angeles City Pampanga, Clark Philippines, those requiring assistance for hotel and resort bookings in Clark, Pampanga, Philippines may log on to http://www.HotelClarkPhilippines.com for more information and reservations.

The lifestyle in Clark Pampanga is quite unique. For more information about shopping, sports, golf, leisure, hotel accommodation, where to see and visit, what to do, where to wine and dine and good places to hang out, relax, have a drink with friends, child-friendly establishments, log on to
http://www.ClarkPhilippines.com

Wine lovers looking for a special bottle or something that is of great value and special discounts might log on to this web site to shop for fine vintage wines
http://www.YatsWineCellars.com

Those visitors who plan to relax and unwind in Angeles City, Subic, Pampanga, Clark Philippines might make an effort to book a room at the famous beach and lake resort Clearwater Resort & Country Club. This famous hotel in Clark Pampanga is frequently visited by families with children looking for a good place in Clark to see, a good holiday destination for the family to relax and unwind in the beautiful outdoor facilities. For more information, log on to www.ClearwaterPhilippines.com