World Business Inquiries
Questioning business opportunities in a world that is currently in sharp decline due to the outbreak of the COVID-19 virus. The answer from entrepreneurs and business people is very simple. They answered, all will be beautiful in its time
Budget cuts inflicted upon agencies further ballooned to a net of P34.5 billion in July as more money was diverted to COVID-19 response, Department of Budget and Management (DBM) data released on Monday (Aug. 17) showed.
Assistant Budget Secretary Rolando U. Toledo told the Inquirer that since the Bayanihan to Heal as One Act lapsed on June 25, the government was no longer allowed to reprogram funds for COVID-19-related programs and projects.
“Budget cuts tagged due to the discontinuance of programs, activities and projects in July referred to negative special allotment release orders (Saros) dated June 25 and earlier,” Toledo said in a text message.
“They were only reflected in the July matrix due to delayed tagging in our eBudget systems,” Toledo said.
Net adjustments from April to July showed the biggest budget reductions were made on:
- Department of Public Works and Highways (P126.3 billion)
- Department of Education (P21.9
BEIJING — Japanese stocks sank while other Asian markets gained Monday after Japan reported a record economic contraction as the coronavirus pandemic weighed on retailing, investment and exports. (AP Photo/Eugene Hoshiko)ket Investors in Asia looked ahead to...
TOKYO — Japan’s economy shrank at annual rate of 27.8% in April-June, the worst contraction on record, as the coronavirus pandemic slammed consumption and trade, according to government data released Monday. FILE – In this June 17, 2020, file photo, containers are...