THE P5.268 trillion national budget for 2023 has been signed into law by President Ferdinand “Bongbong” Marcos Jr. on Friday.
Marcos signed the 2023 General Appropriations Act before Vice President Sara Duterte, and some members of Congress including Senate President Juan Miguel Zubiri and House Speaker Martin Romualdez at the Malacañang.
The President cited the importance of the passage of the national budget which “defines and gives muscle” to the roadmap intended for next year.
“I cannot overstate the significance of the fact that as Speaker Martin continually reminds me this is the quickest and fastest passage of the national budget that we have seen so far. And why is that important, it is important because the budget is essentially the roadmap and essentially defines and gives muscle to the road map of what we intend to do for next year,” he said.
He said the swift passage of the budget is significant because it was “fully supported” by the legislature.
“The legislature has been very cooperative in making amendments that we find necessary to the laws in terms of investment, our financial policy, all of these elements that are important for us to position in the new economy after the pandemic,” Marcos said.
“We know that we are all together and that we will be moving on the way to the transformation of our economy and we will be moving in the same direction, following same plan, following with the same understanding that this is the best path to progress, this is the best path to prosperity,” he added.
He also thanked both chambers of Congress, saying that it was done “in record time.”
“I thank you all once again and what we achieve here in terms of the fact that we have been able to put into place the budgeting requirements for all that it is that we planned to do and we did it in record time that is significant achievement and for that I can only thank you all,” Marcos said.
“I know that it did not come easily and it never does. I know that you have worked very hard at it and I am just very happy to see that your hard work has born such sweet fruit, thank you very much and Merry Christmas to everyone,” he added.
The Office of the Senate Committee on Finance Chairman Sonny Angara noted under the final bill transmitted to Marcos, the following agencies would receive the biggest bulk of the budget.
Education sector (DepEd, TESDA, CHEd, state universities and colleges) – P900.9 billion
Department of Public Works and Highways- P881.9 billion
Department of Health – P334.9 billion
Department of the Interior and Local Government – P255.3 billion
Department of National Defense – P234.9 billion
Department of Social Welfare and Development – P199.5 billion
Department of Agriculture- P178.7 billion
Department of Transportation – P105.9 billion
Judiciary – P54.9 billion
Labor and Employment – P44.8 billion
