Marcos signs P5.628 trillion budget for 2023
President Ferdinand Marcos Jr. on Friday signed the P5.628 trillion General Appropriations Act for 2023.
Marcos said the budget “essentially defines and gives muscle to the roadmap of what we intend to do next year”.
“The rapidity of the passage is significant because it means that this budget, the roadmap that we proposed from the Executive, is fully supported by the legislature,” he said.
Based on the bicameral conference committee report, the department with the largest allocation was the Department of Education (DepEd) with P852.8 billion to ensure safe implementation of face-to-face classes, make education more accessible, and address the gaps in resources and facilities in schools.
The Department of Public Works and Highways (DPWH) with P718.4 billion got the second highest allocation; the Department of Health, third, with P296.3 billion; the Department of Interior and Local Government, fourth, with P253.1 billion and the Department of the National Defense, fifth, with P240.7 billion.
By sector, social services was given the biggest share with P 2,070.7 billion.
In a statement, Senate Committee on Finance Chairman Sonny Angara said the final version of the budget included the free bus ride and fuel subsidy programs as well as targeted cash assistance programs.
For his part, House Speaker Martin Romualdez said it “will help the administration implement its Agenda for Prosperity to sustain growth, generate economic activities and jobs, and increase the income for Filipinos”.
“The money needed to sustain our economic expansion momentum and keep the country on the high-growth path should be out on January 1. Agencies should be ready to keep up with their programs, activities, and projects while observing transparency and accountability,” Romualdez said in a statement. Jaspearl Tan/DMS
