BUDGET 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.
The proposed 2024 national budget is 9.5% higher compared to this year’s P5.268 trillion budget.
Pangandaman said the proposed budget focuses on prioritizing expenditures for the country’s economic growth and addressing the effects of inflation.
“Guided by our Medium-Term Fiscal Framework, the proposed national budget will continue to prioritize expenditures outlined in the administration’s 8-Point Socioeconomic Agenda and cater to the objectives of PDP 2023-2028,” said Pangandaman in a statement.
“It shall continue to reflect our commitment to pursue economic and social transformation to address the scarring effects of the pandemic, as well as the impact of inflation, by prioritizing shovel-ready investments in infrastructure projects, investments in human capital development, and sustainable agriculture and food security, among others,” she added.
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