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SENATE OKAYS P5.77-TRILLION NATIONAL BUDGET FOR 2024

admin November 29, 2023

THE Senate on Tuesday approved the government’s P5.768 trillion fiscal spending for 2024.

House Bill 8980 or the P5.768 trillion 2024 General Appropriations Act (GAA) garnered 21 affirmative votes, 0 negative, and one abstention.

Committee on Finance chairperson, Senator Sonny Angara, said the proposed 2024 GAA reflects the aspiration of the President for a “Bagong Pilipinas.”

“In the new Philippines, Mr. President, we are strong and capable enough to defend our sovereignty and keep our citizens safe,” Angara said.

Senate Minority Leader Aquilino “Koko” Pimentel abstained while Senators Pia and Alan Peter Cayetano were absent during the session.

Senate Deputy Minority Leader Risa Hontiveros was among those who voted in the affirmative and said she would submit an explanation for her vote.

Zubiri assigned Angara as chairperson of the Senate panel on the bicameral conference with counterparts in the House to align the disagreeing provisions of the 2024 GAA with Senators Pia Cayetano, Loren Legarda, Imee Marcos, Cynthia Villar, Ronald dela Rosa, Sherwin Gatchalian, Bong Go, Risa Hontiveros, Nancy Binay, Grace Poe, Mark Villar, Francis Tolentino, JV Ejercito, and Jinggoy Estrada.

According to the Senate Committee on Finance’s budget calendar, the bicameral conference will be from November 29 to December 1.

The General Appropriations Bill’s bicameral report, which should be signed by December 6 and prepared and enrolled as a bill starting December 7, will be sent to the Department of Budget and Management on December 15 before it could be signed by President Ferdinand Marcos Jr. on December 16.

The 2024 budget was certified urgent by the President last September to address the need to maintain continuous government operations following the end of the current fiscal year to expedite the funding of various programs, projects, and activities for FY (Fiscal Year) 2024 and to ensure budgetary preparedness that will enable the government to effectively perform its constitutional mandate.”