Podcast
Questions and Answers
What is public expenditure primarily used for?
What is public expenditure primarily used for?
- To fulfill collective needs and wants of citizens (correct)
- To impose fees and penalties on citizens
- To issue licenses and certificates
- To pay off public debt
What is public debt also known as?
What is public debt also known as?
- Public expenditure
- Financial administration
- Sovereign debt (correct)
- National deficit
What is financial administration concerned with?
What is financial administration concerned with?
- Making available money to various branches of an organization (correct)
- Collection of fees and penalties
- Management of public debt
- Implementation of public expenditure
What is economic stability characterized by?
What is economic stability characterized by?
What is an example of a non-tax source of revenue?
What is an example of a non-tax source of revenue?
What is the primary goal of financial administration?
What is the primary goal of financial administration?
What is a key factor in achieving economic stability?
What is a key factor in achieving economic stability?
What is included in public expenditure?
What is included in public expenditure?
Which department has the second-largest budget allocation?
Which department has the second-largest budget allocation?
What is the primary focus of the FY 2021 GAA in addressing the COVID-19 pandemic?
What is the primary focus of the FY 2021 GAA in addressing the COVID-19 pandemic?
How many indigent families are expected to benefit from the National Health Insurance Program?
How many indigent families are expected to benefit from the National Health Insurance Program?
What is the purpose of the PhP4.7 billion allocation?
What is the purpose of the PhP4.7 billion allocation?
How many GeneExpert cartridges are to be procured with the additional budget of PhP1.0 billion?
How many GeneExpert cartridges are to be procured with the additional budget of PhP1.0 billion?
What is the total budget allocation for the repair, upgrading, and construction of health facilities?
What is the total budget allocation for the repair, upgrading, and construction of health facilities?
Which department has the largest budget allocation?
Which department has the largest budget allocation?
What is the purpose of the Human Resources for Health Program?
What is the purpose of the Human Resources for Health Program?
What is a major problem associated with budgeting?
What is a major problem associated with budgeting?
What can cause actual results to depart from budgeted expectations?
What can cause actual results to depart from budgeted expectations?
What is a limitation of the budgeting process?
What is a limitation of the budgeting process?
What can happen if management does not override the budget during an economic downturn?
What can happen if management does not override the budget during an economic downturn?
What is included in theBudget and Expenditure Framework Statement (BESF)?
What is included in theBudget and Expenditure Framework Statement (BESF)?
What is a consequence of budget inaccuracy?
What is a consequence of budget inaccuracy?
What is a characteristic of the budgeting process?
What is a characteristic of the budgeting process?
What is the main problem with the healthcare system in the Philippines?
What is the main problem with the healthcare system in the Philippines?
What does the author suggest is the root cause of the country's problems?
What does the author suggest is the root cause of the country's problems?
What is the author's call to action for ordinary Filipinos?
What is the author's call to action for ordinary Filipinos?
What is the author's main concern about the 2021 budget?
What is the author's main concern about the 2021 budget?
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Study Notes
Objectives of Planning
- To understand the scope of economic planning
- To understand the objectives of planning
Scope of Planning
- Public finance and its origin
- Scope of public finance
- Public vs private finance
- Fiscal functions
- Interaction of private and public sectors
Public Expenditure
- Spending made by the government on collective needs and wants
- Examples: pensions, provisions, security, infrastructure, healthcare, and other social services
- Salaries of those employed by the government are also part of public expenditure
Public Debt
- The amount a country owes to lenders outside of itself
- Includes individuals, businesses, and other governments
- Often referred to as sovereign debt
Financial Administration
- Refers to the organization and management of collective human efforts
- Involves making available money to various branches of an organization
- Enables organizations to carry out their objectives
Economic Stability and Growth
- Refers to the absence of excessive fluctuations in the overall economy
- Characterized by constant output growth and low and stable price inflation
- Key to economic stability is price level stability
Banner Programs and Projects for FY 2021
- Addressing the COVID-19 pandemic
- Prioritizing health-related COVID-19 response programs
- Budgetary support for the National Health Insurance Program
- Deployment of doctors, nurses, and other health workers to disadvantaged communities
- Procurement of personal protective equipment and GeneExpert cartridges
Critique of the 2021 Budget Proposal
- Fails to introduce much-needed budget reforms
- Lacks imagination and fails to address long-standing problems
- Offers mediocre programs and neglects to prioritize healthcare and social welfare
Problems in Government Budgeting
- Inaccuracy due to changing business environment
- Rigid decision making, focusing only on strategy during budget formulation period
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