FDC In The News: On Sec. Andaya’s statement on the 2008 NG budget

Radio interview over dwAD
30 January 2008, 6:20 – 7:00 PM

FDC secretary general Milo Tanchuling was interviewed by university professor and The Daily Tribune columnist Ka Mentong Laurel in his radio program over dwAD. Sir Milo discussed FDC’s position regarding the statement issued by Budget Secretary Rolando Andaya Jr. on the debt service cuts in the 2008 national government budget made by both the House of Representatives and the Senate and realigned to various agencies and social services sector.

Our reaction to Sec. Andaya’s statement on the 2008 NG budget came out as part of the banner story of BusinessMirror today. Philippine Daily Inquirer also published our press release today (page 2).

Philippine Daily Inquirer
31 January 2008, Page A2
http://newsinfo.inquirer.net/breakingnews/nation/view/20080130-115810/Budget-chief-hit-over-debt-service

Budget chief hit over debt service
By Jerome Aning

MANILA, Philippines — The Freedom from Debt Coalition on Wednesday took budget secretary Rolando Andaya Jr. to task for saying that the debt service cuts made by lawmakers in the 2008 national budget was contrary to law and to the government’s bid for a balanced budget this year.

FDC secretary general Milo Tanchuling said that Andaya was “deceiving” the public when he said the entire P25.9-billion cut in the interest payment allocations was a violation of the automatic debt service provision in the Revised Administrative Code of 1987.

“Only P5 billion of this amount is covered by the automatic appropriations law on debt servicing. This P5 billion is embodied in the special provision in the ratified budget suspending interest payments on loans tainted with fraud and anomalies pending renegotiation or condonation,” Tanchuling said in a statement.

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BusinessMirror
31 January 2008, Banner story
http://www.businessmirror.com.ph/01312008/headlines01.html

Economic-stimulus plan doubted
By Fernan Marasigan and Mia Gonzalez
Reporters

THE P75-billion, one-shot economic-stimulus package “approved in principle” by President Arroyo will come under further scrutiny Thursday, as her own allies in Congress and other advisers expressed increasing reservations over its wisdom.

While Budget Secretary Rolando Andaya Jr. was the first to point out its possible adverse impact on the goal to attain fiscal balance, lawmakers Wednesday said salient parts of the package were redundant while party-list representatives said it would use up so much money without substantially benefiting the poor.

After the Cabinet meeting on Tuesday, Albay Gov. Joey Salceda, the President’s trusted adviser, told reporters she had approved it in principle, subject to refinement in another Cabinet-level meeting to see how it fits into the fiscal framework. Salceda billed it as an “evacuation” plan from the “storm” expected to be spawned by a looming recession in the United States, the country’s top trading partner.

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