PBBM to sign 2024 budget before Christmas

By Ruth Abbey Gita-Carlos

December 15, 2023, 11:11 am

<p>President Ferdinand R. Marcos Jr. <em>(PNA photo by Joan Bondoc)</em></p>

President Ferdinand R. Marcos Jr. (PNA photo by Joan Bondoc)

MANILA – President Ferdinand R. Marcos Jr. on Friday said he will immediately sign into law the 2024 General Appropriations Bill (GAB), once it reaches his table.

In a media interview on the sidelines of an event in Muntinlupa City, Marcos said he is just waiting for the final bicameral conference committee report on the proposed PHP5.768-trillion national budget for 2024.

“Wala pa 'yatang report ang bicam (There is no bicam report yet). We’re waiting for that. So, they’re putting the finishing touches on it. Baka (Perhaps, [the final version of the bill]) will be submitted today or in the coming days,” Marcos said.

“But certainly, the minute it is finalized, we will immediately, of course, pass [the 2024 GAB into law],” he added.

Marcos, who is scheduled to fly to Japan on Friday afternoon for the 50th Association of Southeast Asian Nations-Japan Friendship and Cooperation Commemorative Summit, said he expects the 2024 GAB to be signed into law before Christmas.

This, as he stressed that he sees no problem with the proposed budget spending for next year.

“You should really ask the bicam to see what their schedule is. But yes, I think we will do it before Christmas,” Marcos said.

“We have been going through consultations through the whole of the year for that matter and I would be very surprised if there are other issues that will suddenly arise that we had not anticipated or hadn't resolved. So, I don't see any problem to that,” he added.

The bicameral conference committee approved the reconciled provisions of the GAB on Monday morning.

The proposed 2024 budget is equivalent to 21.7 percent of gross domestic product (GDP) and 9.5 percent higher than the PHP5.268 trillion 2023 budget.

Anchored on the theme, “Agenda for Prosperity: Securing a Future-Proof and Sustainable Economy,” the proposed national budget for 2025 is framed based on the 8-Point Socioeconomic Agenda and will continue to support the goals of the Philippine Development Plan 2023-2028 of securing a future proof and sustainable vibrant economy. (PNA)