HOUSE APPROVES P5.768 TRILLION 2024 NATIONAL BUDGET

THE  House of Representatives on Wednesday, September 27, 2023, approved on third and final reading the P5.768-trillion national budget for next year, just before Congress adjourns for a month-long break.

The House of Representatives voted 296 against three and zero abstentions to approve House Bill No. 8980 or the 2024 national budget on third and final reading.

In his speech before adjourning the session, Speaker Speaker Ferdinand Martin G. Romualdez stressed the House’s steadfast commitment to fulfilling its constitutional duty of overseeing the national expenditure program with the highest levels of transparency and diligence.

The leader of the 310-strong legislative chamber noted that the budgeting process was marked by rigorous discussions, particularly concerning confidential and intelligence funds, which the House meticulously scrutinized to ensure accountability and responsible utilization.

“We underscored the need for agencies to abide by the strict accounting and auditing rules governing the handling and release of such funds and emphasized the need to safeguard its efficient and responsible utilization,” Romualdez said.

“As a result, the House was able to assess and evaluate the nature and use of these funds and correct any mix-ups and allay public concerns regarding this issue,” he added.

Earlier, the House leadership decided to reallocate confidential and intelligence funds, originally designated for non-security departments, to bolster security efforts in the West Philippine Sea.

A significant portion of these funds will now support the National Intelligence Coordinating Agency (NICA) and the National Security Council (NSC), organizations responsible for intelligence activities and national security coordination, respectively.

Additionally, the 2024 budgets for the Philippine Coast Guard and the Bureau of Fisheries and Aquatic Resources will be increased to enhance surveillance capabilities in the West Philippine Sea.

The proposed 2024 national budget is 9.5 percent higher than this year’s budget of P5.267 trillion, and is equivalent to 21.7 percent of the country’s gross domestic product.

The education sector receives the largest allocation at P924.7 billion, including funds for the Universal Access to Quality Tertiary Education program, textbooks, and feeding programs. The Department of Education sees a 5.37 percent increase to P758.6 billion.

Infrastructure priorities include the North-South Commuter Railway System and Metro Manila Subway Project Phase 1. The Department of Public Works and Highways gets P822.2 billion with allocations for road improvement. The Department of Transportation’s budget doubles to P214.3 billion, focusing on mass transport and rail systems.

Agriculture receives P181.4 billion, supporting rice, corn, and high-value crops production. The Department of Health gets P306.1 billion, while the Department of Social Welfare and Development sees a 5.2 percent increase to P209.9 billion. The Department of National Defense’s budget rises by 14.16 percent to P232.2 billion.