Preamble
WHEREAS, the national budget is a major instrument for development, requiring careful design of the preparation, legislation, execution, and accountability phases of budgeting; WHEREAS, the experience of the years has been reflected in various improvements in the budget process, and embodied in C.A. No. 246, R. A. No. 992, and P. D. No. 999; WHEREAS, the budget process as implemented prior September 21, 1972 was not able to fully support national objectives and plans; WHEREAS, national interest calls for the institutionalization of budgetary innovation realized during the New Society and developed within the context of the Constitution of 1973. NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree: