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DBM raises 2024 budget proposal to P5.768 trillion

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Jekki Pascual and Job Manahan, ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt=" The Department of Budget and Management headquarters in Manila on Sept. 2, 2022. Jonathan Cellona, ABS-CBN News/File" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/news/06/21/20220902-dbm-facade-jc-3.jpg"/><figcaption>The Department of Budget and Management headquarters in Manila on Sept. 2, 2022. Jonathan Cellona, ABS-CBN News/File</figcaption></figure></div> MANILA — The first full-year budget prepared by the Marcos administration for 2024 is estimated at P5.768 trillion, Budget Secretary Amenah Pangandaman said on Tuesday.The 2023 budget was mostly prepared by the previous administration and finalized by Pangandaman last year. Pangandaman said the 2024 budget is 9.5 percent higher than this year&#x27;s budget. While it is big compared to the 4.9 percent increase from 2022 to 2023, the new budget’s increase is still relatively low compared to other years, she said. &quot;[It is] still one of the lowest. Usually budget increase natin is more than 10 percent, 10 to 12 percent, 15 percent. Maybe because we’re still exiting the pandemic and we’re trying to revive the economy,&quot; Pangandaman said at the Kapihan sa Manila Bay forum.She added that just 2 weeks ago during the Development Budget Coordination Committee (DBCC) meeting, the budget increase was at 9.2 percent and later raised to 9.5 percent due to expected new revenues. &quot;Revenue measures niya for sweet and salty food and beverages supposedly 2025 mag-kick in, what they did, they will advance it to 2024. When Congress opens, now until end of the year, they will push for that new revenue measures,&quot; said Pangandaman, who expressed confidence that the bill would be passed and add more revenues to the government.(Revenue measures for sweet and salty food and beverages will supposedly kick in in 2025, but what they did, they will advance it to 2024.)Priorities for this year include education, infrastructure, agriculture, health, and digitalization of government. The proposed budget was sent on Tuesday to President Ferdinand Marcos Jr., who also wanted to add livelihood programs, Pangandaman said.“While we will not decrease or limit the cash transfers kasi alam naman natin may mga sector na kailangan pa rin po yan…maganda po ibigay na natin sa kababayan natin livelihood. Bibigyan natin ng extension or grant or fund para sila makapagsimula ng trabaho,” she said.(While we will not decrease or limit the cash transfers because we know that some sectors need that, it&#x27;s good to give our compatriots livelihood. We will give them an extension or grant or fund to start their livelihood.)<div>AGRICULTURE</div>The agriculture department is finalizing which of its programs could be included in the National Expenditure Program (NEP) to help boost food production and lower prices, Marcos said on Wednesday. Speaking to reporters after the DA&#x27;s 125th founding anniversary, Marcos, who concurrently sits as agriculture secretary, said they were looking for ways to continue improving productivity for rice, corn, and the fishery sector. The agriculture department has a P173.6-billion budget this year.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/news/06/16/23/marcos-says-waiting-for-volunteers-for-agri-chief">Marcos says waiting for volunteers for agriculture chief</a></li></ul>“Kaya kami nag-meeting ngayon after the program ay nagfa-finalize kami ng (ilalagay sa) NEP for this year. And I wanted to talk to the [undersecretaries] and the other bureau chiefs kung ano ‘yung kailangan natin na ipaglaban doon sa budget,&quot; Marcos said. (We are meeting after the program to finalize what should be included in the NEP. And I wanted to talk to them about what should be pushed in the budget.)&quot;So that’s what we were doing upstairs and most of it has to do with increased production,” he added. Enhanced production will also help the country veer away from importation of goods due to supply shortage. &quot;The best way to improve, first of all, availability and to keep the prices down is to have a good level of production, na hindi tayo nabibiktima ng tinatawag na imported na inflation, which is what’s happening now kasi napipilitan tayong mag-import,&quot; he said. <ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/news/06/20/23/marcos-da-personnel-to-get-a-bonus-for-efforts">Marcos: DA personnel to get a bonus on 125th anniv; agency has savings</a></li></ul>The President said government was partnering with the private sector for its expertise in improving value chain, among other things.“And that’s why we are going to partnerships, PPP (public-private) partnerships, with some big groups, some small groups, some locals, some international para mabigyan tayo ng tulong para nga doon sa value chain na mabuo natin,” he said. Agriculture, forestry, and fishing accounted for 9.1 percent of the country&#x27;s gross domestic product in the first quarter of the year, based on data from the Philippine Statistics Authority (PSA). Marcos said despite the &quot;modest gains,&quot; <a href="https://news.abs-cbn.com/business/06/20/23/marcos-on-da-anniv-despite-gains-we-need-to-do-more">more needed to be accomplished</a> in the sector.The proposed budget will be presented to the Cabinet Thursday for final revisions, if any. Pangandaman said that they planned to submit the NEP to Congress one week after the State of the Nation Address (SONA). <figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2688376" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

The first full-year budget prepared by the Marcos administration for 2024 is estimated at P5.768 trillion, Budget Secretary Amenah Pangandaman said.

DBM raises 2024 budget proposal to P5.768 trillion

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DBM raises 2024 budget proposal to P5.768 trillion

Jekki Pascual and Job Manahan,

ABS-CBN News

Published June 21, 2023 01:15 PM PHT

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Updated June 21, 2023 01:21 PM PHT

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Department of Budget and Management

DBM

Amenah Pangandaman

2024 budget

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