Secretary Benjamin E. Diokno of the Department of Budget and Management gave his lecture on the Economics of Government Defense Spending at Camp Aguinaldo, Quezon City on Thursday.
The budget chief discussed the Philippine economy in relation with the rest of the world and the importance of national security.
“You cannot have people engage in vibrant economic activity with armed conflict happening at the same time and place. That is not possible… This is why national security is very much intertwined with socio-economic development.” he stressed.
Secretary Diokno also discussed defense spending in the proposed 2019 National Budget, highlighting the targets that defense programs have to meet.
“The Philippine government has allocated and spent billions on the enhancement of the country’s defense capability over the years. The Duterte administration will sustain this commitment by allocating PhP 188.2 billion to the defense sector for 2019” in order to maintain and expand the country’s defense capabilities against foreign and domestic threats.
The revised AFP modernization program, and adjusted compensation and rice subsidy for Military and Uniformed Personnel were also discussed by the budget secretary.
“Without national security, we would not be able to experience the socio-economic development the country has experienced so far: more jobs, higher wages, and a higher standard of living for every Filipino” Diokno shared.
The lecture was attended by graduate students taking up their one-year master’s degree in National Security Administration at the National Defense College of the Philippines in Camp Aguinaldo.