Pres. Marcos Jr. signs into law the nat'l budget for 2024
Department of Budget and Management (DBM) Secretary Mina F. Pangandaman hailed President Ferdinand R. Marcos Jr.'s signing into law the P5.768 trillion General Appropriations Act (GAA) for Fiscal Year 2024.
"This is truly a timely gift for
the Filipino people, a noteworthy legislation that marks a significant point in
our ongoing efforts to stimulate robust economic growth and recovery,"
Sec. Pangandaman said.
"Its swift approval is, indeed, an exemplary representation
of the government's unity and dedication, which play pivotal roles in achieving
impactful results," she added.
The budget chief likewise recognized the work accomplished by the legislative
departments.
"We also take this opportunity to
acknowledge the tireless efforts of the members of both chambers of Congress,
under the leadership of Senate President Juan Miguel F. Zubiri and House
Speaker Martin G. Romualdez, for their diligent scrutiny and subsequent
approval of the proposed national budget for 2024,"
Pangandaman pointed out.
"We strongly believe that the
2024 General Appropriations Act will facilitate the fulfillment of the
administration's 2022-2028 Medium-Term Fiscal Framework (MTFF) and the 8-Point
Socioeconomic Agenda, where no Filipino will be left behind,"
Pangandaman also emphasized.
DBM secretary further reiterated the DBM's duty in the fΓ³rmulation and
implementation of the national budget.
"Rest assured that
we remain committed to prudent fiscal management and the judicious allocation
of resources in our bid to continue the advancement of the Filipino people and
the overall betterment of our nation," she said.
In his message during the signing of the GAA, the President
emphasized the importance of the national budget as an instrument which
tells how the taxes paid by the people will be returned to them.
"Although it is
teeming with numbers, this budget is more than a spreadsheet of amounts or a
ledger of projects. Rather, it details our battleplan in fighting poverty and
combating illiteracy, in producing food and ending hunger and protecting our
homes and securing our border, treating the sick, keeping our people healthy,
creating jobs, and funding livelihoods," the President underscored.
He added, "It is wrong to say the
budget merely pays for the overhead of the bureaucracy… It funds the
elimination of problems that we, as a nation, must overcome… In the end, every
line in the budget, when translated to projects, from roads, to schools,
to hospitals, will transform our country and the lives of our people for the
better." (DBM/PIA-Caraga)
