“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.”

— Francis Escudero

2014, Speech: Sponsorship Speech for the FY 2015 National Budget

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Francis Escudero 354

Filipino politician 1969

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Francis Escudero (1969) Filipino politician

2014, Speech: Sponsorship Speech for the FY 2015 National Budget

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Francis Escudero 354

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