MANILA: The proposed PHP5.768-trillion General Appropriations Act (GAA) for next year was ratified by the Senate on Monday. This was after the bicameral conference committee approved the reconciled provisions of the GAA on Monday morning. In his bicameral report delivered at the plenary, Senator Sonny Angara said the bicameral conference agreed to increase the budget of the Department of National Defense, Armed Forces of the Philippines, and other government agencies focusing on peace and order. Angara said funding support for the enhancement of the country’s self-reliance in agriculture was also maintained, not only to raise the incomes of farmers and fisherfolk but also to ensure the country’s food security. “We have affirmed the funds for programs of the Department of Agriculture and its attached agencies, such as for rice, corn, livestock, high-value crops development, soil health, fisheries, agricultural research and development, and buffer stocking,” he said. The chairperson of the Senate Committee
on Finance also noted that education remains a top priority of the 2024 GAA. “The increases made to our education agencies support ongoing efforts to make educational opportunities more available and accessible, specifically for Government Assistance and Subsidies of the DepEd (Department of Education) to implement the Senior High School Voucher Program; for the Tulong Dunong Program of the Commission on Higher Education or CHED; and the Tulong Trabaho Fund, the Training for Work Scholarship Program or TWSP, and the Special Training for Employment Program or STEP,” Angara said. Additional funds were likewise allocated for the Department of Health’s Medical Assistance to Indigent and Financially-Incapacitated Patients and the Health Facilities Enhancement Programs. The 2024 national budget, Angara said, shall also devote funds for infrastructure, for greater mobility through roads, bridges, railways, and seaports. “Funds were assured for the major programs of the Department of Transportation for Rail Trans
port, Land Public Transport, Aviation infrastructure, and of the DPWH (Department of Public Works and Highways) for Asset Preservation, Network Development, Bridges, its other convergence and special support programs for tourism and trade, and other social infrastructure, such as water systems, school buildings, public hospitals, health centers, and the like,” he said. “Nawa’y makatulong ang badyet na ito para maabot ang pinapangarap nating Bagong Pilipinas (May this budget help fulfill our dream of a new Philippines).” In a chance interview earlier, Angara cited the 2024 GAA as a “budget to sustain our growth” and assured that no confidential funds were allotted for any civilian government agency. ‘Shared commitment’ The House of Representatives also ratified the reconciled version of the proposed 2024 budget. With both chambers of Congress ratifying the bicameral conference committee report, the measure would now be sent to Malacañang for President Ferdinand Marcos Jr. to sign into law.House appropriat
ions committee chair Elizaldy Co said the final version of the 2024 budget bill reflects the Congress’ “shared commitment to address the needs of our constituents as well as advancing the well-being of our nation.” The House met its deadline imposed by Speaker Martin Romualdez to pass the spending bill before Congress goes on Christmas break. ‘We owe it to the Filipino people to pass a well-crafted budget on time to allow the government of President Marcos to immediately allocate those funds to help boost economic activity, draw more investments, create jobs and secure a better future for our people. We owe our constituents, the Filipino people, nothing less,’ Romualdez said. The proposed 2024 budget, equivalent to 21.7 percent of gross domestic product (GDP,) is 9.5 percent higher compared to the PHP5.268 trillion 2023 budget. Anchored on the theme, ‘Agenda for Prosperity: Securing a Future-Proof and Sustainable Economy,’ the Department of Budget and Management said the proposed national budget is framed
based on the 8-Point Socioeconomic Agenda and will continue to support the goals of the Philippine Development Plan 2023-2028 of securing a future proof and sustainable vibrant economy.

Source: Philippines News Agency

MANILA: The proposed PHP5.768-trillion General Appropriations Act (GAA) for next year was ratified by the Senate on Monday. This was after the bicameral conference committee approved the reconciled provisions of the GAA on Monday morning. In his bicameral report delivered at the plenary, Senator Sonny Angara said the bicameral conference agreed to increase the budget of the Department of National Defense, Armed Forces of the Philippines, and other government agencies focusing on peace and order. Angara said funding support for the enhancement of the country’s self-reliance in agriculture was also maintained, not only to raise the incomes of farmers and fisherfolk but also to ensure the country’s food security. “We have affirmed the funds for programs of the Department of Agriculture and its attached agencies, such as for rice, corn, livestock, high-value crops development, soil health, fisheries, agricultural research and development, and buffer stocking,” he said. The chairperson of the Senate Committee
on Finance also noted that education remains a top priority of the 2024 GAA. “The increases made to our education agencies support ongoing efforts to make educational opportunities more available and accessible, specifically for Government Assistance and Subsidies of the DepEd (Department of Education) to implement the Senior High School Voucher Program; for the Tulong Dunong Program of the Commission on Higher Education or CHED; and the Tulong Trabaho Fund, the Training for Work Scholarship Program or TWSP, and the Special Training for Employment Program or STEP,” Angara said. Additional funds were likewise allocated for the Department of Health’s Medical Assistance to Indigent and Financially-Incapacitated Patients and the Health Facilities Enhancement Programs. The 2024 national budget, Angara said, shall also devote funds for infrastructure, for greater mobility through roads, bridges, railways, and seaports. “Funds were assured for the major programs of the Department of Transportation for Rail Trans
port, Land Public Transport, Aviation infrastructure, and of the DPWH (Department of Public Works and Highways) for Asset Preservation, Network Development, Bridges, its other convergence and special support programs for tourism and trade, and other social infrastructure, such as water systems, school buildings, public hospitals, health centers, and the like,” he said. “Nawa’y makatulong ang badyet na ito para maabot ang pinapangarap nating Bagong Pilipinas (May this budget help fulfill our dream of a new Philippines).” In a chance interview earlier, Angara cited the 2024 GAA as a “budget to sustain our growth” and assured that no confidential funds were allotted for any civilian government agency. ‘Shared commitment’ The House of Representatives also ratified the reconciled version of the proposed 2024 budget. With both chambers of Congress ratifying the bicameral conference committee report, the measure would now be sent to Malacañang for President Ferdinand Marcos Jr. to sign into law.House appropriat
ions committee chair Elizaldy Co said the final version of the 2024 budget bill reflects the Congress’ “shared commitment to address the needs of our constituents as well as advancing the well-being of our nation.” The House met its deadline imposed by Speaker Martin Romualdez to pass the spending bill before Congress goes on Christmas break. ‘We owe it to the Filipino people to pass a well-crafted budget on time to allow the government of President Marcos to immediately allocate those funds to help boost economic activity, draw more investments, create jobs and secure a better future for our people. We owe our constituents, the Filipino people, nothing less,’ Romualdez said. The proposed 2024 budget, equivalent to 21.7 percent of gross domestic product (GDP,) is 9.5 percent higher compared to the PHP5.268 trillion 2023 budget. Anchored on the theme, ‘Agenda for Prosperity: Securing a Future-Proof and Sustainable Economy,’ the Department of Budget and Management said the proposed national budget is framed
based on the 8-Point Socioeconomic Agenda and will continue to support the goals of the Philippine Development Plan 2023-2028 of securing a future proof and sustainable vibrant economy.

Source: Philippines News Agency