President Marcos Set to Sign 2024 National Budget

President Ferdinand Marcos Jr.
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MANILA, Philippines: President Ferdinand Marcos Jr. is set to sign the 2024 General Appropriations Act (GAA) into law today, Wednesday. This significant move comes after the P5.76-trillion 2024 national budget was ratified by Congress on December 11.

The ceremonial signing of the GAA will take place in Malacañang and will be witnessed by Senate President Juan Miguel Zubiri, Speaker Martin Romualdez, Budget Secretary Amenah Pangandaman, and other Cabinet officials. It is expected that President Marcos will fulfill his commitment to sign next year’s budget “the minute it is finalized,” with his target being “before Christmas.”

By approving the GAA before the year ends, the President aims to prevent the national government from operating on a reenacted budget in the new year. This approach ensures that the disbursement of funds required for various projects and programs is not hindered.

Operating on a reenacted budget can have significant implications for the country’s development and progress. It limits the government’s ability to allocate funds effectively and efficiently, potentially leading to delays in implementing crucial initiatives.

With the signing of the 2024 GAA, the government can move forward with its plans to address the pressing needs of the nation. The budget allocation covers a wide range of sectors, including education, healthcare, infrastructure, and social services, among others.

Education is a key priority in the national budget, as it plays a vital role in shaping the future of the country. Adequate funding for education ensures that students have access to quality education, empowering them to become productive members of society. It supports initiatives such as the improvement of school facilities, the provision of scholarships, and the enhancement of the curriculum.

The healthcare sector is also a significant beneficiary of the 2024 GAA. Accessible and affordable healthcare services are essential for the well-being of the Filipino people. The budget allocation will be used to strengthen healthcare infrastructure, provide medical supplies and equipment, and enhance healthcare programs, ultimately improving the overall quality of healthcare in the country.

Infrastructure development is another crucial aspect of the national budget. The government recognizes the importance of investing in infrastructure to drive economic growth and create job opportunities. The allocated funds will be utilized to build and improve roads, bridges, airports, seaports, and other vital infrastructure projects that will facilitate trade and commerce.

Furthermore, social services, such as housing, disaster response, and social welfare, will receive substantial support from the 2024 GAA. These services aim to uplift the lives of the marginalized sectors of society, ensuring that no one is left behind.

President Marcos’s commitment to signing the GAA promptly demonstrates his dedication to the welfare and progress of the Filipino people. By avoiding a reenacted budget, the government can effectively implement its plans and programs, bringing about positive change and development.

In conclusion, the signing of the 2024 General Appropriations Act by President Ferdinand Marcos Jr. marks a significant milestone for the Philippines. This act ensures the efficient allocation of funds for various sectors, including education, healthcare, infrastructure, and social services. By avoiding a reenacted budget, the government can move forward with its plans to address the pressing needs of the nation, ultimately working towards a brighter future for all Filipinos.

Source: The Manila Times

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