House vows to approve 2024 national budget before October recess
MANILA, Philippines — The House of Representatives has committed to approve the proposed P5.7-trillion 2024 national budget before the recess of its second regular session in October, according to Speaker Ferdinand Martin Romualdez.
Romualdez said President Ferdinand Marcos Jr. plans to submit the budget proposal after his State of the Nation Address (Sona) on Monday.
“Pag nangyari po ‘yan, sigurado tatapusin natin ‘yung budget (When that happens, we will finish the budget) before our October break. We average five weeks of solid work on budget deliberations, consideration, review, and approval through third reading. So we are confident with the processes and protocols and procedures that we have na matatapos natin ang ating (we will accomplish the) national 2024 budget,” Romualdez said in a statement issued on Sunday.
He added that the budget is geared towards sustaining the country’s economic growth, creating more job opportunities, and delivering essential social services related to education, health care, and infrastructure.
Moreover, Romualdez said that the lower chamber would also monitor how the annual budget will be used to implement the New Agrarian Emancipation Act, among others.
“The emancipation law lifted the debt burden of our farmers. In other words, na-exempt na ang ating mga magsasaka dito sa kanilang mga utang sa acquisition ng lupa nila (our farmers are now exempted from their land acquisition debts). We think that is one of the cornerstones of our President’s legislative agenda. He promised this last year, hindi lang na-promise nagawa, napirmahan na (not only did he promise it, he already signed it),” the said.
Romualdez said that the House would deliberate and pass the proposed budget, which is P500 billion higher than this year’s P5.268-trillion spending program, through “a transparent process.”
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