Budget Secretary Amenah Pangandaman leads the ceremonial turnover of the Fiscal Year 2024 National Expenditure Program to House Speaker Ferdinand Martin G. Romualdez.
BUDGET and Management (DBM) Secretary Amenah Pangandaman officially submits the P5.768 trillion National Expenditure Program (NEP) for Fiscal Year (FY) 2024 to the House of Representatives on Wednesday.
The DBM handed over the NEP for FY 2024 to President Ferdinand R. Marcos Jr. a day after his second State of the Nation Address (SONA). Under the Philippine Constitution, the national budget must be submitted to the Congress within 30 days following the President’s SONA.
The National Expenditure Program is the President’s proposed budget that includes the planned government expenditure for the succeeding fiscal year, as well as the allocated funds for different programs and initiatives. This entails a detailed breakdown of spending across sectors such as education, health, agriculture and infrastructure, and encompasses funds reserved for government agencies and offices, alongside various programs and projects identified as the Administration’s top priorities.
Once approved by the Congress, the NEP will be known as the General Appropriations Bill. Upon passage into law, the bill will be known as the General Appropriations Act (GAA).
The proposed budget for next year is 9.5 percent higher compared to the current year’s appropriations of PhP5.268 trillion. According to DBM Secretary Pangandaman, the proposed national budget for FY 2024 shall continue to prioritize expenditure items that promote social and economic transformation through infrastructure development, food security, digital transformation and human capital development.
