MANILA: The House of Representatives is targeting to approve the proposed PHP6.352-trillion 2025 national budget by the end of September this year, Speaker Martin Romualdez said on Wednesday.
In a statement, Romualdez said the government’s spending plan for next year would be a top priority of the House in the next session of Congress, which convenes on July 22.
‘Aside from our commitment in approving the few remaining LEDAC (Legislative-Executive Development Advisory Council) priority measures, the House will again work doubly hard to pass the proposed PHP6.352 trillion 2025 General Appropriations Bill (GAB) before we go on break this end of September 2024,’ Romualdez said. ‘We will then transmit the GAB to the Senate for its consideration.”
He said the chamber would ensure enough funding for education, the modernization and welfare programs of the armed forces, and the legacy projects of President Ferdinand R. Marcos Jr., among other priorities for budget allocation.
He further noted that funding for he
alth, agriculture, infrastructure, and defense is necessary as well to make food products accessible and affordable and accelerate the country’s development in an environment of peace and stability.
‘We have to continue building roads, highways, ports, school buildings, climate change-proof structures, and similar infrastructure to maintain and expand economic growth. Progress has to reach the remotest communities,’ he added.
On Tuesday, President Marcos approved the 2025 National Expenditure Program (NEP), which reflects the administration’s priorities, such as food security, social protection, health care, housing, disaster resilience, infrastructure, digital connectivity, and energization.
Once approved by Congress, it will be known as the GAB and will become the General Appropriations Act upon signing into law.
The proposed spending plan for next year is equivalent to 22 percent of the gross domestic product (GDP), and 10.1 percent higher than this year’s budget of PHP5.768 trillion.
The proposed bud
get is anchored on the theme ‘Agenda for Prosperity: Fulfilling the Needs and Aspirations of the Filipino People.”
Budget Secretary Amenah Pangandaman earlier said the Development Budget Coordination Committee would submit to Congress the proposed 2025 national budget on July 29, one week after the President’s 3rd State of the Nation Address (SONA).
Source: Philippines News Agency