House eyes approval of P5.76-T budget by October

The House of Representatives aims to approve the proposed P5.768-trillion 2024 national budget in October before the 19th Congress’ second regular session goes into recess.

Speaker Martin Romualdez told a press briefing on Saturday that President Marcos intended to submit to Congress his budget proposal immediately after the State of the Nation Address.

“Once it happens, we would surely finish the budget before our October break,” he pointed out, adding, “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, we would finish the 2024 national budget.”

“That is the most important piece of legislation,” Romualdez stressed.

He explained that the proposed 2024 P5.768-trillion budget, which is P500 billion higher than this year’s budget, “aims to sustain the country’s economic growth, create more income and job opportunities for the people and improve their quality of life through the timely delivery of basic social service like education, health care and infrastructure.”

According to the Speaker in the deliberation of next year’s budget, the lower chamber would look into how the annual budget would be used and how laws, particularly the new Tenant Emancipation Act, would be implemented.

Romualdez pointed out that the Tenant Emancipation Act is among the cornerstones of the President’s legislative agenda.

“So we in Congress would want to make sure that the law is properly and well-implemented so our farmers would be productive and help in achieving our aim of lowering the costs of rice, sugar and vegetables,” he said.

Romualdez also assured that the process in deliberating on the 2024 national budget would be transparent.

“Like last year, we will get the widest consensus on our spending plan among our members. Its approval is very crucial in maintaining stability and facilitating the seamless implementation of government programs and projects. It has significant implications for the country’s progress and development,” he said. INQ