President Ferdinand Marcos Jr. signed his first national budget, saying that the P5.268-trillion appropriation “defines and gives muscle” to his administration’s “many, many plans” for next year. | NCorralesINQ /PDI
Cayetano: GSIS, SSS, other GOCC direct investment in infra dev’t safer and better than Maharlika fund
The Department of Education , however, got the biggest share, amounting to P900.9 billion, including an also unprecedented confidential and intelligence fund of P150 million at the disposal of Vice President Sara Duterte, the education secretary. The Vice President’s office also got a P500-billion confidential fund.
The Department of Budget and Management submitted the National Expenditure Program to Congress on Aug. 22. The national budget was ratified by the Senate and the House on Dec. 5.“We did it in record time,” Marcos said. “That is a significant, significant achievement.” Marcos said Congress was “very cooperative” in making amendments to the budget measure necessary to his administration’s “financial policy.”Speaker Martin Romualdez, a cousin of Mr. Marcos, said the money from the budget could be available as early as New Year’s Day, so the various agencies must be ready with their programs and projects.
“I am very proud of the swift passage of our budget because this will allow our agencies and offices to go full speed ahead in service of our people,” he said.
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