(Bloomberg) -- Philippine President Rodrigo Duterte's allies in the House of Representatives broke an impasse on the chamber's leadership Tuesday, ahead of a special session called to pass next year's 4.5 trillion-peso ($93 billion) budget.
Congressman Alan Peter Cayetano on Facebook said he's resigning as House Speaker, as the election of his challenger Lord Allan Velasco was formalized by 186 lawmakers. Duterte will meet the two lawmakers this afternoon to push for the approval of the 2021 budget, presidential spokesman Harry Roque said at a separate briefing.
Philippines' 2021 Budget Hangs as Duterte House Allies Clash
The resolution of the House leadership row removes a hurdle in the passage of next year's budget, which is seen to help boost the economy that Central Bank Governor Benjamin Diokno said may shrink more than expected this year by up to 9%.
Cayetano and Velasco entered into a term-sharing deal last year, where the latter will be speaker starting next month. The rivalry resurfaced last month when an ally of Velasco accused Cayetano of allocating more infrastructure funds to some lawmakers -- an allegation he denied.
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