Education sector to receive P977.6-B, P253.3-B earmarked for aid to vulnerable sectors in 2025 budget

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Education sector to receive P977.6-B, P253.3-B earmarked for aid to vulnerable sectors in 2025 budget;  DOTr launching transport projects in Mindanao;  PH trade deficit narrows to $4.38-B in August;  16 new PEZA projects to generate jobs, draw investments  For more news, visit:  ►https://www.ptvnews.ph/  Subscribe to our DailyMotion Channel: ►http://www.dailymotion.com/peoples-television-incorporated  Subscribe to our YouTube channel: ►http://www.youtube.com/ptvphilippines  Like our Facebook pages: ►PTV: http://facebook.com/PTVph  ►Rise and Shine Pilipinas: https://www.facebook.com/riseandshinepilipinas  Follow us on Twitter:  ►http://twitter.com/PTVph  Follow us on Instagram: ►https://www.instagram.com/ptvph  Watch our livestream on:  ►http://ptvnews.ph/livestream/ ►https://www.dailymotion.com/PTVPhilippines  Watch our News Programs, every Mondays to Fridays  Rise and Shine Pilipinas - 6:00 - 8:00 am Bagong Pilipinas Ngayon - 12:00 - 1:00 pm Sentro Balita - 1:00 pm - 2:00 pm Ulat Bayan - 6:00 pm - 7:00 pm PTV News Tonight -  9:30 pm - 10:30 pm  Saturday & Sunday: ►Ulat Bayan Weekend - 6:15 pm - 7:00 pm

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00:00The education sector is set to get a big allocation in the proposed 2025 budget.

00:05Meanwhile, various infrastructure projects will be constructed in Mindanao to encourage

00:11sustainable and inclusive economic growth.

00:14These and more in tonight's business news wrap-up by Kate Renya.

00:21Department of Budget and Management Secretary Amen Abang Andaman proposed

00:25P6.3 trillion pesos for the 2025 national budget, with education receiving P977.6 billion pesos,

00:33or 15.4 percent of the total national budget.

00:36This budget supports the Philippine Development Plan 2023-2028,

00:40focusing on human development through investments in education and social services.

00:45Cash assistance for vulnerable sectors is set at P253.3 billion pesos,

00:51which aligns with the plan's goals but is lower than previous years.

00:54This budget will fund various assistance programs from different departments,

00:59including agriculture and health.

01:02The Department of Transportation is launching transport projects in Mindanao to promote

01:07sustainable growth.

01:08Transportation Secretary Jaime Bautista highlighted the modernization of Lagindingan

01:13Airport and upcoming upgrades for airports in Sambuanga, Mati, and others.

01:17The Davao Public Transport Modernization Project will create over 600 kilometers of

01:23bus-only lanes to improve public transport.

01:26Additionally, the Mindanao Railway Project aims to build over 2,000 kilometers of rail

01:31connecting major cities like Tagum, Davao, and Cagayan de Oro.

01:36The Philippines' trade deficit dropped to $4.38 billion in August, down from $4.89 billion in

01:43July, but higher than $4.11 billion a year ago.

01:47Exports increased by three-tenths of a percent, the highest since September 2023.

01:53Imports fell by 2.7 percent, the lowest since June.

01:57The Development Budget Coordination Committee forecasts a 5 percent growth

02:01in exports and 2 percent in imports this year.

02:05Sixteen new projects from the Philippine Economic Zone Authority, or PESA,

02:10will create many jobs and draw investments to the country.

02:13PESA Director General Terezo Panga announced such projects could generate $115 billion in

02:19investments and have since created 35,871 jobs.

02:25Most projects are in Calabarzon, Cebu, the NCR, and Pampanga,

02:29with investments also coming from Singapore.

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