Aquino signs P1.64 trillion budget today BY REGINA BENGCO

Aquino signs P1.64 trillion budget today

BY REGINA BENGCO

PRESIDENT Aquino will sign today the P1.645-trillion 2011 budget, his first full-year budget as president.

Budget Secretary Florencio Abad said the President will veto the general provision in the 2011 budget that seeks to limit government borrowings to 55 percent of gross domestic product (GDP).

The 55 percent debt cap provision was introduced by Sen. Joker Arroyo on the ground that no debt beyond the ceiling should be incurred without approval from Congress..... MORE

Source:  Malaya

URL: http://www.malaya.com.ph/12272010/news3.html