The government is in the process of formulating its proposed national budget for the upcoming year, with a substantial amount of P5.768 trillion being allocated.
In a briefing at the Department of Finance today, Department of Budget and Management Secretary Amenah Pangandaman said the proposed 2024 national budget is 9.5 percent higher than this year’s budget
“We have a constitutional deadline, we have to submit it 30 days after the SONA (State of the Nation Address). But from our end, from our own timeline, we’ll present the NEP (National Expenditure Program) to the Cabinet on June 22,” Pangandaman said.
“We’ll finalize it after, and then maybe after the SONA, give it maybe three to five days, we’ll present it to the Congress,” she added.
The budget chief said that the proposed national budget wouold continue to prioritize expenditure items that promote social and economic transformation through infrastructure development, food security, digital transformation, and human capital development.
“Acknowledging the competing demands of government programs against a backdrop of limited resources, we shall ensure that the 2024 National Expenditure Program will only include implementation-ready agency proposals,” Pangandaman said.