MANILA, Philippines: (UPDATE) President Ferdinand Marcos Jr. on Wednesday enacted the General Appropriations Act of 2024 during a ceremonial signing in Malacañang.
Among those present to witness the Chief Executive’s approval of the P5.768-trillion national budget were Senate President Juan Miguel Zubiri, Speaker Martin Romualdez, Department of Budget and Management Secretary Amenah Pangandaman, Presidential Communications Office Secretary Cheloy Garafil, other Cabinet and high-ranking government officials, and members of the diplomatic corps.
“It details our battle plan of fighting poverty, in producing food and ending hunger, in treating the sick and keeping our people healthy, in creating jobs and funding livelihood. It is wrong to say that the budget merely pays for the overhead of the bureaucracy. It is more than that. It funds the elimination of problems we as a nation must overcome,” Marcos said.
“In the end, every line in this budget, when translated to projects from roads to schools, to hospitals, will transform our country and the lives of our people for the better. In this budget, we have included what we consider to be the means that will boost both the physical and human capital of the nation waiting to be tapped with resources waiting to be harnessed,” he added.
Part of the coming year’s spending fund, which is 9.5 percent higher compared to the P5.268 trillion budget for 2023, would go to the government’s efforts to bolster the country’s defense capabilities against China’s continued aggression in the contested West Philippine Sea. The budget allocates P11.28 billion for the Department of National Defense, Armed Forces of the Philippines, and Philippine Coast Guard.
Furthermore, the budget includes P500 billion intended to improve the quality of life for approximately 48 million poor Filipinos.
The General Appropriations Act of 2024 signed by President Ferdinand Marcos Jr. signifies the government’s commitment to addressing key issues that affect the Filipino people. The budget, amounting to P5.768 trillion, is more than just a financial plan for administrative expenses. It is a strategic tool that aims to combat poverty, ensure food security, enhance healthcare services, create employment opportunities, and uplift the overall well-being of the nation.
President Marcos emphasized the importance of translating budgetary allocations into tangible projects that will directly benefit the people. From infrastructure development, such as roads and schools, to healthcare facilities like hospitals, the budget aims to transform the country and the lives of its citizens.
One significant aspect of the budget is its focus on defense against China’s continued aggression in the West Philippine Sea. With an allocation of P11.28 billion, the Department of National Defense, Armed Forces of the Philippines, and Philippine Coast Guard will be equipped to strengthen the country’s defense capabilities. This move demonstrates the government’s commitment to safeguarding national sovereignty and protecting the interests of the Filipino people.
Additionally, the budget includes a substantial amount of P500 billion dedicated to improving the quality of life for the estimated 48 million poor Filipinos. This allocation reflects the government’s determination to address poverty and uplift marginalized communities. By investing in programs and initiatives that promote social welfare, education, and livelihood opportunities, the budget aims to create a more equitable and inclusive society.
It is worth noting that the General Appropriations Act of 2024 represents the government’s battle plan against poverty and other challenges faced by the nation. President Marcos’s vision for the budget extends beyond financial management. It is a means to overcome obstacles and unlock the untapped potential of the Filipino people. By utilizing available resources effectively, the budget aims to boost both the physical and human capital of the country.
The enactment of the General Appropriations Act of 2024 is a significant milestone for the Philippines. It showcases the government’s commitment to addressing pressing issues and improving the lives of its citizens. With its strategic allocations and focus on poverty alleviation and defense against external threats, the budget sets the stage for a more prosperous and secure future for the nation.
Source: The Manila Times