President Ferdinand Marcos, Jr. may sign the over P5.7-trillion budget for 2024 by mid-December, the Department of Finance (DOF) said on Tuesday.
“Malamang,” Finance Secretary Benjamin Diokno told Palace reporters when asked if Marcos, Jr. would approve the country’s fiscal spending before his foreign travel to Japan from Dec. 16 to 18.
“I was talking to the liaison officer. Na-approve na kasi ‘yung budget. They are going to conference committee by December 1st, and so there is enough time bago umalis si Presidente,” Diokno added.
The House of Representatives in late September approved on third and final reading the proposed General Appropriations Act or the government’s 2024 budget without changes.
The lower chamber though left announced realignments of surveillance funds to a small group of House leaders.
Senate President Juan Miguel Zubiri earlier said the 2024 fiscal spending would be approved on time after the Senate closed its plenary debates of different government agencies’ budget last week.
The P5.768 trillion is 9.5 percent higher than the budget for this year. The Department of Budget and Management noted that it is equivalent to 21.7 percent of the country’s gross domestic product.
