Bill Type
Long Title
AN ACT REPEALING THE AUTOMATIC APPROPRIATION FOR PUBLIC DEBT, AMENDING FOR THE PURPOSE EXECUTIVE ORDER NO. 292, OTHERWISE KNOWN AS THE REVISED ADMINISTRATIVE CODE OF 1987 AND FOR OTHER PURPOSES
Congress Author
Date filed
October 17, 2002
Scope
Urgent Bill
No

Legislative History

House Bill/Resolution NO. House Bill No. 5394, 12th Congress of the Republic
FULL TITLE : AN ACT REPEALING THE AUTOMATIC APPROPRIATION FOR PUBLIC DEBT, AMENDING FOR THE PURPOSE EXECUTIVE ORDER NO. 292, OTHERWISE KNOWN AS THE REVISED ADMINISTRATIVE CODE OF 1987 AND FOR OTHER PURPOSES
ABSTRACT : Rationale: The national government debt service is a continuing burdern to the Filipino people, which remains to have the biggest slice of the national budget. Our huge debt is not a sole obligation of the government, but in efffect, a burden shouldered by the people gravely affected by the shifting of budgetary priorities and expenditues for the much needed social services to the payment of interest and principal amortization for our enormous debt. > In the interest of the Filipino people, this proposed measure seeks to delete the provision on automatic appropriation for debt service provided under Section 26, Chapter 4, Book VI of EO 292 otherwise known as the Revised Administrative Code of 1987.
PRINCIPAL AUTHOR/S : SYJUCO, AUGUSTO JR. L
DATE FILED : 2002-10-17
SIGNIFICANCE: NATIONAL
ADMINISTRATION BILL? No
URGENT BILL? No
ACTIONS TAKEN BY THE COMMITTEE ON RULES
REFERRAL TO THE COMMITTEE ON REVISION OF LAWS ON 2002-10-23

Abstract

Rationale: The national government debt service is a continuing burdern to the Filipino people, which remains to have the biggest slice of the national budget. Our huge debt is not a sole obligation of the government, but in efffect, a burden shouldered by the people gravely affected by the shifting of budgetary priorities and expenditues for the much needed social services to the payment of interest and principal amortization for our enormous debt. > In the interest of the Filipino people, this proposed measure seeks to delete the provision on automatic appropriation for debt service provided under Section 26, Chapter 4, Book VI of EO 292 otherwise known as the Revised Administrative Code of 1987.

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Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.