QUEZON CITY (PIA) – President Ferdinand Marcos Jr. on Wednesday, December 20, signed the P5.768 trillion national budget for fiscal year 2024, urging all government agencies to efficiently use the financial resources in projects and programs that best promote the country’s socioeconomic development.
During the ceremonial signing of the 2024 National Expenditure Program (NEP) in Malacañang, the president underscored the need to continuously implement anti-red tape reforms to ensure bureaucratic efficiency in the public sector.
“With this reminder comes the most important budget commandment that we must all receive. We are working for the people, not for ourselves. We are working for the country not for ourselves,” said President Marcos Jr., honoring the country’s valued taxpayers by expressing the commitment of the administration to good fiscal stewardship.
“Although it is teeming with numbers, this budget is more than a spreadsheet of amounts or a ledger of projects. Rather, it details our battle plan in fighting poverty and combating illiteracy, in producing food and ending hunger and protecting our homes and securing our border, treating the sick, keeping our people healthy, creating jobs, and funding livelihoods,” the president further noted.
Department of Budget Secretary (DBM) Amenah Pangandaman, during the signing ceremony said, the enactment of the national budget anchors the achievement of a future-proof and sustainable economy for every Filipino.
“We strongly believe that the 2024 General Appropriations Act will facilitate the fulfillment of the administration’s 2022-2028 Medium-Term Fiscal Framework (MTFF) and the 8-Point Socioeconomic Agenda, where no Filipino will be left behind,” said Pangandaman.
The 2024 General Appropriations Act (GAA) sets out important budget provisions towards the realization of the Philippine Development Plan (PDP) for 2023 to 2028.
Among the transformative goals of the PDP include the generation of more quality jobs for Filipinos, creation of a resilient health system, as well as the delivery of inclusive education, responsive climate action, food security, social protection, and infrastructure development.
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The next year’s national budget is 9.5 percent higher than the 2023 approved NEP which previously amounted to P5.268 trillion. (JMP/PIA-NCR)
