Budget Secretary Amenah Pangandaman says the proposed budget will be submitted within 30 days after the President's second State of the Nation Address.
In a release, Budget Secretary Amenah Pangandaman said Marcos and his Cabinet had approved the NEP, which was set at P5.768 trillion. The amount is 21.8% of the Philippines’ gross domestic product.Pangandaman said the budget would “prioritize expenditures that will sustain economic growth, bearing in mind inclusivity and sustainability,” without giving more specifics.
Pangandaman said they would submit the proposed budget to the Congress weeks after Marcos’ second State of the Nation Address on July 24. The executive must submit its proposed budget within 30 days after the SONA, the President’s yearly address before the Congress. During the SONA, the chief executive traditionally highlights his administration’s milestones and lays out his priorities, including the legislation he wants Congress to pass.
In the Philippines, the Congress is almost always dominated by a majority that’s allied with the chief executive. The Congress is supposed to scrutinize the proposed budget. Once it passes both chambers and is signed by the President, it becomes the General Appropriations Act for the fiscal year. –
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Planned tax hike on junk food, sweet drinks bumped up 2024 budget – DBM chiefThe anticipated revenue from the planned early implementation of additional taxes on sweetened beverages and salty junk food increased the proposed 2024 budget to ₱5.768 trillion, Budget Secretary Amenah Pangandaman said Wednesday.
Read more »
Marcos approved proposed P5.768T 2024 budget —DBMBudget Secretary Amenah Pangandaman said Friday that President Ferdinand "Bongbong" Marcos Jr. already approved the proposed P5.768 trillion national budget during a Cabinet meeting on Thursday.
Read more »
Tax hike on junk food, sweetened beverages to be sought this year —DBMThe Marcos administration will push for the passage of new tax measures this year, particularly additional taxes on sweetened beverages and junk food, Budget Secretary Amenah Pangandaman said Wednesday.
Read more »
Unprogrammed funds to be limited to 5% of national government’s budget—DBM | Jasper Y. ArcalasTHE Department of Budget and Management (DBM) wants to limit the national government’s unprogrammed funds to 5 percent of its total annual budget to ensure “sustainability” in the state’s expenditure. DBM Secretary Amenah F. Pangandaman said they are “hopeful” that they can limit the national government’s unprogrammed funds within or…
Read more »
DBM to submit 2024 budget one week after SONAPresident Marcos will submit his proposed national budget for next year one week after his State of the Nation Address (SONA), the Department of Budget and Management (DBM) announced. | ManilaBulletin
Read more »
Additional tax take from sweetened drinks, salty foods to boost 2024 budget -DBM chiefMANILA, Philippines — The increase in the proposed 2024 national budget is made possible by the expected revenue from the planned imposition of additional taxes on sweetened beverages and salty junk foods ear... CDNDigital
Read more »