Additional Budgetary Savings and Economy Measures
Executive Order No. 975, issued on August 1, 1984, by President Ferdinand E. Marcos, mandates additional budgetary savings and economy measures to manage the Philippine government's budget deficit. It establishes a reserve of 1.5 billion pesos for the 1984 budget, allocating 0.5 billion pesos for capital outlays and 1 billion pesos for current operating expenditures. The Office of Budget and Management is tasked with preparing a consolidated program of expenditures and issuing necessary budget execution circulars. The order reiterates previous economy and fund control measures to reinforce fiscal discipline.
Law Information
- Reference Number
- Executive Order No. 975
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Executive Orders
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
August 1, 1984
EXECUTIVE ORDER NO. 975
DIRECTING ADDITIONAL BUDGETARY SAVINGS AND ECONOMY MEASURES
WHEREAS, there is a continuing need to keep the budget deficit at manageable levels;
WHEREAS, control of government expenditure is an essential component of our retrenchment 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: cd i
A. Additional Reserves in the 1984 Budget
1. A budgetary reserve equivalent to one and one-half billion pesos (P1.5 billion) shall be effected in 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: Capital Outlays and Corporate Equity P0.5 billion Current Operating Expenditures — 1.0 billion
B. The Office of Budget and Management shall prepare a consolidated adjusted program of expenditures for implementation purposes and shall accordingly issue the relevant budget execution circulars. asia dc
C. The provisions of Letter of Implementation No. 146 and Letter of Instructions No. 1408 prescribing economy and funds control measures, respectively, are hereby reiterated.
DONE in the City of Manila, this 1st day of August, in the year of Our Lord, Nineteen Hundred and Eighty-Four.
Published in the Official Gazette, Vol. 80 No. 34 page 4405 on August 20, 1984.
Cite This Law
Additional Budgetary Savings and Economy Measures, Executive Order No. 975, Aug 1, 1984 (Philippines)
Additional Budgetary Savings and Economy Measures, Executive Order No. 975 (Phil. 1984)
Related Laws
- Additional Budgetary Savings and Economy MeasuresExecutive Order No. 956 • Jun 6, 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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