TOKYO: President Ferdinand Marcos Jr. is scheduled to sign the proposed P5.768-trillion national budget for 2024 on Wednesday, December 20, according to Speaker Martin Romualdez. The ratified budget has already been sent to Malacañang for Marcos’ signature, as confirmed by Romualdez during his conversation with Filipino journalists at the Association of Southeast Asian Nations-Japan Commemorative Summit in Tokyo on Sunday evening.
“It’s ready for signing, I think Wednesday. It will be signed on Wednesday. In fact, I think he would have signed it before he left. But I think they are still printing it. There are some printing requirements, and they need to print more copies. But other than that, it’s ready to go,” said Romualdez, who accompanied the President in Tokyo.
Romualdez further assured that there are no anticipated vetoed provisions in the budget. “We’ve been working closely with the Office of the President and all the departments,” he added.
On Monday, Congress ratified the bicameral conference report on the proposed 2024 General Appropriations Bill (GAB). This development brings the budget one step closer to becoming law.
During a media interview in Muntinlupa City last week, President Marcos expressed his confidence in the swift passage of the 2024 GAB. “We have been engaging in consultations throughout the year, and I would be very surprised if there are any unforeseen issues that arise. So, I don’t see any problem,” he stated.
The proposed 2024 budget amounts to 21.7 percent of the country’s gross domestic product (GDP) and represents a 9.5 percent increase from the P5.268 trillion budget for 2023.
With the signing of the national budget, the government aims to allocate funds efficiently and effectively to address the country’s various needs and priorities. The budget covers various sectors, including education, healthcare, infrastructure, social services, and defense.
By signing the budget before Christmas, President Marcos demonstrates his commitment to providing stability and continuity in governance, ensuring that government programs and projects can proceed without delay.
The proposed budget reflects the government’s focus on promoting economic growth, reducing poverty, and improving the lives of Filipino citizens. It is designed to support the implementation of key initiatives and projects that will drive the country’s development and progress.
As the budget is signed into law, it will serve as a blueprint for the government’s spending and resource allocation for the year 2024. The responsible and efficient utilization of these funds will play a crucial role in achieving the government’s goals and aspirations.
Furthermore, the significant increase in the proposed budget compared to the previous year reflects the government’s commitment to addressing the pressing needs of the nation. It signals a proactive approach to improving public services, infrastructure, and social welfare.
With the signing of the national budget, the government can move forward with confidence, knowing that the necessary resources are in place to support its plans and programs. This step is vital for ensuring the smooth implementation of projects that will benefit the Filipino people.
In conclusion, President Ferdinand Marcos Jr.’s signing of the P5.768-trillion national budget for 2024 signifies the government’s dedication to addressing the country’s needs and promoting its development. The budget’s approval and allocation of funds to various sectors will contribute to the improvement of public services, infrastructure, and the overall well-being of the Filipino people.
Source: The Manila Times