PRESIDENT Ferdinand ‘Bongbong’ Marcos Jr. would likely sign the P5.768 trillion national budget for 2024 before his trip to Japan in December, said Finance Secretary Benjamin Diokno on Tuesday.
“Malamang (maybe),” Diokno said at a Palace briefing when asked if Marcos would sign the proposed 2024 budget before he leaves for Japan for the 50th year of ASEAN-Japan Friendship and Cooperation.
”Kasi I was talking to the liaison officer, na-approved na kasi iyong budget eh, so they will go into conference, conference committee by December 1st. And so there is enough time bago umalis si President,” he added.
The ASEAN-Japan Friendship and Cooperation Commemorative Summit will happen from December 16 to 18.
Diokno said there is enough time for Marcos to sign the budget, which the Senate is expected to pass within the week.
The House of Representatives has already approved the budget.
Once the Senate approved the proposed budget, it would meet with the House of Representatives at the bicameral conference to reconcile the disagreeing provisions of each chamber’s version of the budget.
Once reconciled, the final version of the General Appropriations Bill will be ratified in the House of Representatives and the Senate so it can be sent to Malacañang for Marcos’ review and approval.
The P5.768-trillion proposed budget for 2024 reflects a 9.5% increase from the 2023 appropriations, according to the Department of Budget and Management (DBM).
