President Marcos Signs P5.768T 2024 Budget

SIGNED President Ferdinand Marcos Jr. signs into law the national budget for 2024. CONTRIBUTED PHOTO
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President Ferdinand Marcos Jr. took a significant step towards the development of the Philippines by signing the General Appropriations Act of 2024 at Malacañang. This act, with a budget of P5.768 trillion, outlines the government’s battle plan to combat poverty, improve healthcare, create jobs, and enhance the country’s defense capabilities. The ceremonial signing was witnessed by esteemed individuals, including Senate President Juan Miguel Zubiri, House Speaker Ferdinand Martin Romualdez, and several high-ranking government officials.

During the signing, President Marcos emphasized the holistic approach of the budget, stating, “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.” He clarified that the budget is not solely for the bureaucracy’s overhead expenses but rather a means to eliminate the challenges faced by the nation. The president firmly believes that every line item in this budget, when translated into projects such as infrastructure development, educational institutions, and healthcare facilities, will transform the country and improve the lives of its people.

One notable aspect of the 2024 budget is its allocation towards strengthening the country’s defense capabilities in response to China’s continued aggression in the West Philippine Sea. With P11.28 billion earmarked for the Department of National Defense, Armed Forces of the Philippines, and Philippine Coast Guard, the government aims to ensure the safety and security of the nation’s territorial waters.

Furthermore, the budget includes a substantial amount of P500 billion dedicated to improving the quality of life for approximately 48 million impoverished Filipinos. This investment demonstrates the government’s commitment to uplifting the most vulnerable sectors of society and creating opportunities for their socio-economic advancement.

It is important to note that this budget aligns with President Marcos’ vision of harnessing the nation’s resources to boost both physical and human capital. The funds allocated will be utilized to tap into the country’s potential and address the pressing needs of the Filipino people. The government’s focus on poverty alleviation, healthcare, defense, and job creation reflects its determination to create a more prosperous and secure future for all.

As the General Appropriations Act of 2024 comes into effect, it is crucial to recognize the significance of this budget and its potential impact on the nation. The allocation of resources towards key sectors demonstrates the government’s commitment to addressing the immediate challenges faced by the country while also investing in its long-term development.

In conclusion, President Ferdinand Marcos Jr.’s signing of the General Appropriations Act of 2024 marks a milestone in the Philippines’ journey towards progress. This comprehensive budget not only addresses poverty and healthcare concerns but also bolsters the country’s defense capabilities. By focusing on these critical areas, the government aims to create a brighter future for the Filipino people, ensuring their well-being and security. As the budget is implemented, its transformative projects will undoubtedly shape the nation and uplift the lives of its citizens.

Source: The Manila Times

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