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" "So whenever the tug of populism tempts us to pass measures without regard of their fiscal cost, he is there to ask us if those who will ultimately foot the bill can actually afford it.
Francis Escudero (born October 10, 1969) is a Filipino politician.
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I thank the honorable Senate President for entrusting the undersigned with the critical responsibility of managing the Senate's role in fulfilling Congress' duty to oversee the Executive Department's use of public funds and to ensure the allocation of the same is guided by what is in the best interests of our people.
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The President’s proposed budget for FY 2015 under the N.E.P. or the National Expenditure Program amounts to P2.606 trillion, reflecting an increase of P341.372 billion or 15.07% higher than the Fiscal Year 2014 budget. It is anchored on a real GDP projection of 7-8%, an inflation rate of 2-4%, 364-day T-Bill rate of 2-4%, and a foreign exchange rate of P42-45 to the dollar.