Additional Budgetary Savings and Economy Measures
Executive Order No. 956, issued by President Ferdinand E. Marcos on June 6, 1984, aims to achieve a manageable budget deficit through additional budgetary savings and economy measures. It mandates the imposition of a budgetary reserve equivalent to 5% of the 1984 budget, with specific percentages allocated to various expenditure categories, such as capital outlays and current operating expenditures. Government agencies are required to adjust their expenditures accordingly and submit revised programs to the Office of Budget and Management. The order emphasizes the need for careful review and prioritization of programs, with restrictions on the realignment of savings without prior approval.
Quick Answers
- What is Additional Budgetary Savings and Economy Measures about?
- Executive Order No. 956, issued by President Ferdinand E. Marcos on June 6, 1984, aims to achieve a manageable budget deficit through additional budgetary savings and economy measures. It mandates the imposition of a budgetary reserve equivalent to 5% of the 1984 budget, with specific percentages allocated to various expenditure categories, such as capital outlays and current operating expenditures. Government agencies are required to adjust their expenditures accordingly and submit revised programs to the Office of Budget and Management. The order emphasizes the need for careful review and prioritization of programs, with restrictions on the realignment of savings without prior approval.
- What type of law is Executive Order No. 956?
- Additional Budgetary Savings and Economy Measures (Executive Order No. 956) is a Philippine Presidential Issuances enacted by the Congress of the Philippines.
- When was Additional Budgetary Savings and Economy Measures enacted?
- Additional Budgetary Savings and Economy Measures (Executive Order No. 956) was enacted on Jun 6, 1984.
- What is the citation for Additional Budgetary Savings and Economy Measures?
- Additional Budgetary Savings and Economy Measures, Executive Order No. 956, Jun 6, 1984 (Philippines)
Law Information
- Reference Number
- Executive Order No. 956
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Executive Orders
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 6, 1984
EXECUTIVE ORDER NO. 956
DIRECTING ADDITIONAL BUDGETARY SAVINGS AND ECONOMY MEASURES
WHEREAS, there is urgent need to attain a manageable budget deficit; and
WHEREAS, control of government expenditures is an essential component of our ongoing economic stabilization program.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by law, do hereby order the immediate implementation of the following which were covered by a verbal order of the President.
A. Additional Reserves in the 1984 Budget
1. There shall be imposed, a budgetary reserve equivalent to five (5) percent of the 1984 budget program in addition to the earlier implemented reserves.
2. The reserves shall be applied on the major expenditure accounts on the basis of the following percentages:
| Capital Outlays of MPWH and MTC | 6.5% |
| Corporate Equity Investments | 15.5% |
| Other Capital Outlays | 26.5% |
| Current Operating Expenditures | 2.0% |
B. Mechanism of Implementation
1. To realize the above targets, the concerned agencies and offices of the national government, including government-owned and controlled corporations and state colleges and universities shall immediately effect the above adjustments and shall submit the corresponding adjusted program of expenditures to the Office of Budget and Management.
2. To effect the necessary reductions, all concerned shall accordingly review all their unreleased program allotments in order that low priority programs/projects/activities may be deferred, scaled down, or rescheduled. In addition, savings from released allotments shall not be utilized or realigned without prior approval of the Office of Budget and Management.
C. The Office of Budget and Management shall prepare a consolidated adjusted program of expenditures for implementation purposes and shall accordingly issue the relevant budges execution circulars.
D. The provisions of Letter of Implementation No. 146 and Letter of Instructions No. 1408 prescribing economy and funds control measures, respectively, are hereby reiterated. ISHCcT
DONE in the City of Manila, this 6th day of June, in the year of Our Lord, nineteen hundred and eighty four.
Cite This Law
Additional Budgetary Savings and Economy Measures, Executive Order No. 956, Jun 6, 1984 (Philippines)
Additional Budgetary Savings and Economy Measures, Executive Order No. 956 (Phil. 1984)
Related Laws
- Additional Budgetary Savings and Economy MeasuresExecutive Order No. 975 • Aug 1, 1984 • Presidential Issuances
- Effective Imposition of Budgetary Reserves and Economy Measures in Government OperationsLetter of Instructions No. 1098 • Jan 5, 1981 • Presidential Issuances
- Directing the Implementation of Economy Measures in Government and Generation of Savings for CY 1984Letter of Implementation No. 146 • Feb 27, 1984 • Presidential Issuances
- Implementation of Economy Measures in Government to Generate Contingency ReservesLetter of Instructions No. 981 • Feb 4, 1980 • Presidential Issuances
- Stricter Economy Measures and Improved Funds ControlLetter of Instructions No. 1408 • May 9, 1984 • Presidential Issuances
- Adoption of Economy Measures in Government for FY 1998Administrative Order No. 372 • Dec 27, 1997 • Presidential Issuances
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