MONEY TALK The Senate and House of Representatives panels meet to approve the bicameral conference committee report on the 2024 General Appropriations Bill. The P5.7 trillion national budget, according to the lawmakers, aims to sustain the country’s growth. (File photo from SENATE PRIB dated Dec 11, 2023.)
MANILA, Philippines — The approval of the 2025 national budget will be prioritized in the House of Representatives during the 19th Congress’ third and last regular session, according to House Speaker Ferdinand Martin Romualdez.
Romualdez said the national spending program is among the priority legislation the of Congress every year.
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“Syempre naman yung budget, kasi pagkatapos ng Sona (State of the Nation Address), isusumite na naman ‘yung budget sa 2025. Kaya dun na lang ‘yung kasunduan na lang na pinag-uusapan natin ng House of Representatives,” he said.
(After the Sona, the proposals for the 2025 national budget need to be submitted. That is why we agree that that will be discussed in the House of Representatives.)
“Yun ang pinakamabigat at pinakamalaking legislation,” he noted.
(This is the heaviest and the biggest legislation.)
Citing reports, the lawmaker said the Marcos administration will propose a P6.2 trillion national budget for next year – higher than this year’s outlay, which amounts to P5.7 trillion.
The 19th Congress is scheduled to start its third and last session on July 22 during the chief executive’s third Sona.
Earlier, the legislators from both chambers met and discussed the proposed amendments to the Rice Tariffication Law.
According to Romualdez, the Senate expressed openness in passing the measure, which aims to lower rice prices.
“Ongoing po (ang discussion) at mukhang nagkakasunduan na ang House at ang Senate at mukhang malapit na. Matatapos din at magkakaroon tayo ng magandang resolusyon,” the lawmaker said.
(The discussion about it is ongoing, and it seems that the House and Senate are agreeing on this. It looks like this will be finished quickly and will result in a fine resolution.)
“The suggested changes in the law seek to reinstate the palay-buying and rice-selling mandate of the National Food Authority so the agency could influence rice prices in the retail market,” the statement reads.