The total proposed national budget for 2020 at P4.1
trillion is 9.1 percent higher, or P343 billion more than the proposed P3.757-trillion national budget for 2019.
The bank's net interest income rose by 16 percent to P4.8 billion in the first quarter from P4.1
billion in the same period last year amid its vibrant lending business.
Interest income was up 31 percent, or P1.3 billion, to P5.4 billion from P4.1 billion, partly due to higher collections on past due accounts, while interest expense was at P0.9 billion, lower by P0.6 billion from P1.5 billion last year due to lower interest rates in the current year.
Meanwhile, administrative and other operating expenses totaled P4.8 billion, P0.7 billion higher than last year's P4.1 billion.
As of end-January, treasury bonds still accounted for the bulk of outstanding debt paper with a face amount of P4.1
trillion, down from P4.13 trillion in December.
Licuanan said the P4.1 billion set aside for the agency's "Tulong Dunong" program "does not qualify as a Priority Development Assistance Fund (PDAF) or congressional pork barrel contrary to Representative Tinio's constant assertions in media that tend to disparage the credibility of the CHEd as the statutory administrator of the said fund."
"As for the P14 million cited by Representative Tinio in the congressional hearing, this was derived from dividing the P4.1 billion by the number of congressional districts, an apportionment intended merely as an internal guide for the allocation of the grants-in-aid per district considering that the CHEd had to deal with a phenomenal seven-fold increase in the number of grants to allocate within a very short time frame," she said.