The Department of Budget and Management (DBM) revealed that the final stages of preparation for the anticipated P5.768-trillion expenditure program for 2024 are underway.
This comprehensive budget proposal is expected to be presented to Congress following President Ferdinand Marcos Jr.’s second State of the Nation Address, scheduled for July 24.
During the Kapihan sa Manila Bay forum, DBM Secretary Amenah F. Pangandaman disclosed that the 2024 National Expenditure Program (NEP) had already been presented to the President yesterday.
Pangandaman further shared that the program is scheduled for final approval by the Cabinet tomorrow, June 22.
“After a couple of weeks of sleepless nights, we had marathon meetings on the budget because as you know, budget preps usually start in February – first quarter of the year when we release the budget call. And then after that, the agencies will submit their requests to us and then we hold a series of meetings with the departments and agencies for them to justify their budget proposals,” Pangandaman said.
Pangandaman also expressed optimism that the approval process for the 2024 budget would be faster compared to the previous year.
“Under the Constitution, we should submit the national expenditures program one month after the SONA. On our calendar, we will submit our NEP to the Congress one week after the 24th (of July),” the budget chief said.
The proposed budget for the next fiscal year reflects a 9.5 percent increase compared to this year’s national budget of P5.268 trillion.