Marcos proposes record P5.3-T budget - BusinessWorld Online

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Marcos proposes record P5.3-T budget - BusinessWorld Online
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THE MARCOS administration proposed to increase the allocations for education, health, agriculture, and infrastructure under the P5.268-trillion national budget for 2023, while lowering allotments for other priority sectors such as social protection.

Diego Gabriel C. Roblesproposed to increase the allocations for education, health, agriculture, and infrastructure under the P5.268-trillion national budget for 2023, while lowering allotments for other priority sectors such as social protection.

The education sector, as mandated by the Constitution, received the biggest budget at P852.8 billion, an 8.2% increase from this year’s P788.5-billion allocation. This includes the funds allotted for the Department of Education , State Universities and Colleges , Commission on Higher Education , and Technical Education and Skills Development Authority .

Meanwhile, allocations for flexible learning options and basic education facilities were accorded P19.4 billion and P9.8 billion, respectively. The health sector will see a 10.4% rise in next year’s budget to P296.3 billion. The Department of Health will see 6.6% increase to P196.08 billion, while the Philippine Health Insurance Corp. will get a P100.23-billion budget.

“President Marcos earlier said that this administration shall continue to implement infrastructure projects and refocus to ‘Build, Better, More.’ These projects — subway, regional airports, railways and farm-to-market roads — will surely benefit the Filipino people,” Ms. Pangandaman said. The Marcos administration earlier said it will allocate 5-6% of gross domestic product annually for infrastructure.The Department of the Interior and Local Government had the third highest budget with P253.05 billion, 1.4% higher than this year’s allocation.orts to help local governments, the administration proposed to allocate P28.9 billion for the Local Government Support Fund, composed of P13.

“At the national level, the 2023 National Expenditure Plan seems to contain a lot of the old existing programs of various departments and agencies. Based on the press conference, there are incremental adjustments in funding levels like the 4Ps program and those meant to support education, social services and public health. The public should scrutinize these allocations,” Ms. Suzara said.

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