MANILA: Speaker Martin G. Romualdez said the PHP5.268-trillion 2023 national budget, which was signed Friday afternoon by President Ferdinand R. Marcos Jr., will help achieve the administration’s commitments, particularly in the implementation of its Agenda for Prosperity to sustain growth, generate economic activities and jobs and increase the income for Filipinos.
“It is the most important and potent tool the President, his economic team and the entire government can use to accomplish the goals of the prosperity roadmap,” Romualdez said.
He pointed out that the House of Representatives and the Senate deliberated on and approved the President’s first full-year budget proposal “in record time.”
“As far as I can remember, the 2023 budget is one of the few spending bills signed into law in mid-December, way before the start of its implementation on New Year’s Day,” he said.
The PHP 5.268-trillion national budget for Fiscal Year (FY) 2023 was crafted in harmony with the 8-point Socioeconomic Agenda of the Marcos administration necessary to transform the national economy towards inclusivity and sustainability for a more prosperous Philippines.
Romualdez thanked members of Congress and executive officials for their cooperation in the early passage of the appropriations bill.
He said the administration, principally the Department of Budget and Management, now has enough time to prepare for the release of funds appropriated in the 2023 budget law.
“The money needed to sustain our economic expansion momentum and keep the country on the high-growth path should be out on January 1. Agencies should be ready to keep up with their programs, activities and projects, while observing transparency and accountability,” Romualdez said
Source: Philippines News Agency
