MANILA — The Philippine House of Representatives handed over the 2024 General Appropriations Bill, with a total allocation of PHP5.768 trillion, to the Senate on Saturday, marking a pivotal step in the national budgetary process.
According to Philippines News Agency, the House accomplished a transparent and exhaustive review of the budget, resulting in realigned funds of PHP194.5 billion. These funds are earmarked to enhance national security, provide protection against global inflation, and bolster food security. Speaker Romualdez highlighted the commitment to a pork barrel-free budget process, emphasizing meticulous scrutiny to ensure fiscal responsibility and the welfare of the nation.
The 2024 budget, as passed by the House, seeks to address the immediate needs of Filipinos amid the challenges posed by global inflation and the rising cost of living. It incorporates significant amendments aimed at providing immediate relief to households, ensuring that essential goods remain accessible.
In compliance with the Supreme Court ruling, the pork barrel system has been completely abolished, and measures have been put in place to uphold the principles of transparency, accountability, and good governance. Romualdez reassured that every peso in the budget is allocated judiciously, reflecting the government’s integrity and dedication to serving the people.
The House Speaker extended gratitude to Senate President Juan Miguel Zubiri and the Senate for their partnership, stressing the collective duty to ensure the budget mirrors the aspirations of the populace. The call for continued engagement and oversight was made in anticipation of collaborative efforts to drive the nation's prosperity.
The House's approval of the General Appropriations Bill on September 27 was decisive, with a vote of 296-3, showing overwhelming support for the budget without any abstentions. The proposed budget for the social services sector, which includes health, education, culture and manpower development, social security, welfare, and employment, is slated for the largest slice of the national budget at PHP2.183 trillion, accounting for 37.9 percent of the total and an 8.9 percent increase from the previous year’s allocation.
With the handover completed, the Senate is now set to review and debate the 2024 budget, a crucial document that will fund the government's operations and outline its priorities for the upcoming fiscal year.