Disbursement Acceleration Program

2407 Words Feb 7th, 2014 10 Pages
Adnan S. Manibpel / adsmanibpel@gmail.com / 09432581805
2 – Bachelor of Science in Accountancy
English 23 MWF 8:45 – 9:45
SENTENCE OUTLINE
I. Introduction
The Disbursement Acceleration Program of the Aquino Administration should not be implemented because it does not contribute in the GDP and economic growth of the country, although it may have been partially successful, its rediscovery has drawn reaction as “Unlawful”, aside from being unconstitutional, it does not serve, neither its spending was translated to over-all increase of jobs, nor trigger a downturn in poverty incidence.

II. Background
The Disbursement Acceleration Program (DAP) is a stimulus package under the Aquino administration, designed to fast-track public spending and
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The economy grew by only 3.9 percent in 2011, down from a hefty 7.3 percent in 2010. The project cancellations earned for government the displeasure of, even legal action from, donor agencies. The resulting growth slowdown drew severe criticism from business and other economy watchers.
It was in this context that the Development Budget Coordinating Committee (DBCC), chaired by Abad and composed of government’s key economic managers, saw urgency in accelerating government disbursements to reverse the slowdown. Thus was the DAP born. In October 2011, the DBCC prescribed the following criteria for projects to be supported under DAP: (1) fast-moving or quick-disbursing; (2) urgent or high priority in terms of social and economic development objectives; and (3) well-performing programs or projects that could further expand benefits to the public with additional funds.
How were funds sourced? Funds used for programs and projects identified through DAP were sourced from savings generated by the government, the realignment of which is subject to the approval of the President; as well as the Unprogrammed Fund that can be tapped when government has windfall revenue collections, e.g., unexpected remittance of dividends from the GOCCs and Government Financial Institutions (GFIs), sale of government assets.

Body
The use of DAP successfully sustained the pace of public spending as