Declaration of Policy.
Section 2
Sec. 2. Declaration of Policy. —It is hereby declared policy that the National Budget shall be formulated as an instrument of national development and that government budgeting shall be oriented towards the achievement of explicit objectives and expected results to ensure that funds are utilized and operations are conducted effectively, economically and efficiently. The budget shall reflect all revenues, expenditures, domestic or foreign borrowings and donations, of all levels of government, including those of government-owned or controlled corporations and local governments. The budget shall likewise provide for the regionalization of government operations."