Romualdez: 2023 national budget to help reinvigorate PH economy
Ferdinand Martin Romualdez (File photo by MARIANNE BERMUDEZ / Philippine Daily Inquirer)
MANILA, Philippines — House of Representatives Speaker and Leyte 1st District Rep. Ferdinand Martin Romualdez said Monday that the proposed P5.268 trillion 2023 national budget would be approved soon and expressed certainty that the financial plan will help the economy grow.
He stressed that the consolidated version of the 2023 General Appropriations Bill (GAB) supports the socioeconomic program of President Ferdinand Marcos Jr.’s administration.
“With this budget, which is the first full-year spending plan proposed by the President, we hope to hasten our economic growth, which should benefit our people,” said the House leader, who also congratulated members of the bicameral conference panel for passing the consolidated 2023 GAB during a meeting at the Manila Golf and Country Club.
“It is the most important tool in accomplishing the objectives of the President’s Agenda for Prosperity and his eight-point socio-economic development plan,” he added.
Romualdez, a cousin of Marcos, also vowed to ratify the budget before Congress goes on a recess by December 17.
Article continues after this advertisementNo details about specific changes in allocations under the bicameral committee’s version of the GAB, but Senator Sonny Angara, chair of the Senate committee on finance, said earlier that there were increments to the education and infrastructure budget.
Article continues after this advertisement“‘Yong nadagdag is ‘yong education budget, that’s the state university and colleges tapos ‘yong Department of Education, tapos itong infrastructure budget nadagdagan din, tapos among the agencies, DOJ, DILG, Supreme Court and the Judiciary, ‘yon ang mga naalala ko,” he said.
“‘Yong mga nabawasan, ‘yong mga special funds saka ‘yong mga may kaunting bawas at ‘yong ibang foreign assisted projects, nilagay namin sa unprogrammed funds. Kasi under the unprogrammed funds, ‘pag may foreign funding siya, kapag nagmaterialize na ‘yong loan, pwede nang pondohan ‘yon,” he added.
Angara also revealed that the proposed P150 million confidential and intelligence funds (CIF) of the Department of Education and the P10 billion fund for the National Task Force to End Local Communist Armed Conflict were restored.
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