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Senate Ratifies P5.768 Trillion 2024 National Budget
Senate and the House of Representatives adopt the final version of the proposed P5.768-trillion 2024 General Appropriations Act, Monday, December 11, 2023. Photo courtesy of Senate PH
The Senate ratified the harmonized version of the 2024 General Appropriations Bill (GAB) on Monday, approving a proposed budget of P5.768 trillion for the upcoming year.
This development follows the concurrent ratification by the House of Representatives of the bicameral conference committee report.
Senator Sonny Angara, Chairperson of the Committee on Finance and head of the Senate panel in the bicam, announced that the joint body had committed to bolstering the budget for the Department of National Defense and the Armed Forces of the Philippines amid escalating tensions in the West Philippine Sea.
Beyond defense allocations, key highlights of the 2024 GAB include a focus on enhancing self-reliance in agriculture to raise income for Filipino farmers and ensure food security. Education remains a top priority, while additional funds have been allocated for the health sector, including programs like the Medical Assistance to Indigent and Financially-Incapacitated Patients (MAIFIP) and the Health Facilities Enhancement Program (HFEP).
Social welfare initiatives also received attention, with continued assistance to indigent individuals through various "ayudas" such as the Assistance to Individuals in Crisis Situations (AICS), Sustainable Livelihood Program (SLP), Cash-for-Work under KALAHI-CIDSS, Supplementary Feeding Program, Social Pension for Indigent Senior Citizens, and Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers Program.
The 2024 budget allocates substantial funds for the government's housing program, infrastructure development for enhanced mobility, environmental protection, and a response to climate change. The transition to renewable energy sources, support for attracting investors, and strengthening Small and Medium Enterprises (SMEs) are also prioritized.
Furthermore, the budget underscores the importance of innovation, science, and technology, with increased allocations for the Department of Science and Technology (DOST), the Advanced Science and Technology Institute (ASTI), and other research and development initiatives.
Angara concluded, "Mr. President, these are just a few of the agreements in the bicameral conference regarding the national budget in 2024. We hope that this budget will help to achieve, under the leadership of President Marcos, the new Philippines that every Filipino dreams of. We are confident that this budget will provide certainty and hope during these uncertain times.
" The ratified budget will now be transmitted to Malacañang for President Ferdinand "Bongbong" Marcos Jr.'s signature, marking a crucial step towards its implementation.
This development follows the concurrent ratification by the House of Representatives of the bicameral conference committee report.
Senator Sonny Angara, Chairperson of the Committee on Finance and head of the Senate panel in the bicam, announced that the joint body had committed to bolstering the budget for the Department of National Defense and the Armed Forces of the Philippines amid escalating tensions in the West Philippine Sea.
Beyond defense allocations, key highlights of the 2024 GAB include a focus on enhancing self-reliance in agriculture to raise income for Filipino farmers and ensure food security. Education remains a top priority, while additional funds have been allocated for the health sector, including programs like the Medical Assistance to Indigent and Financially-Incapacitated Patients (MAIFIP) and the Health Facilities Enhancement Program (HFEP).
Social welfare initiatives also received attention, with continued assistance to indigent individuals through various "ayudas" such as the Assistance to Individuals in Crisis Situations (AICS), Sustainable Livelihood Program (SLP), Cash-for-Work under KALAHI-CIDSS, Supplementary Feeding Program, Social Pension for Indigent Senior Citizens, and Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers Program.
The 2024 budget allocates substantial funds for the government's housing program, infrastructure development for enhanced mobility, environmental protection, and a response to climate change. The transition to renewable energy sources, support for attracting investors, and strengthening Small and Medium Enterprises (SMEs) are also prioritized.
Furthermore, the budget underscores the importance of innovation, science, and technology, with increased allocations for the Department of Science and Technology (DOST), the Advanced Science and Technology Institute (ASTI), and other research and development initiatives.
Angara concluded, "Mr. President, these are just a few of the agreements in the bicameral conference regarding the national budget in 2024. We hope that this budget will help to achieve, under the leadership of President Marcos, the new Philippines that every Filipino dreams of. We are confident that this budget will provide certainty and hope during these uncertain times.
" The ratified budget will now be transmitted to Malacañang for President Ferdinand "Bongbong" Marcos Jr.'s signature, marking a crucial step towards its implementation.
Dec 12, 2023
