MANILA -- The Department of Budget and Management (DBM) has submitted the 2024 National Expenditure Program to the House of Representatives.

The first full-year budget prepared by the Marcos administration is valued at P5.768 trillion--9.5 percent higher than the 2023 national budget.

• DBM raises 2024 budget proposal to P5.768 trillion

The amount is equivalent tp 21.7 percent of the gross domestic product, President Ferdinand Marcos Jr. noted in his budget message.

In a statement, the DBM admitted it received proposals totaling P5.9 trillion, but reduced this after careful evaluation.

Of the P5.768 trillion, P893.3 billion or 15.5 percent will go to general public services, P699.2 or 12.1 percent will go to the debt burden.

Meanwhile, P287.2 billion or 4.9 percent of the budget will go to defense.

Some P2.183 trillion or 37 percent will go to social services, and P1.709 trillion or 29.6 percent will go to economic services.

The education sector still has the biggest budget allotment among the various branches of government.

• Education - P924.7 billion
• Transportation - P214.3 billion
• Public Works - P822.2 billion
• Social Welfare - P209.9 billion
• Health - P306.1 billion
• Agriculture - P181.4 billion
• Interior and Local Government - P259.5 billion
• Judiciary - P57.8 billion
• Defense - P232.2 billion
• Labor and Employment - P40.5 billion

"Priority programs of the administration that will be covered include the Universal Access to Quality Tertiary Education (UAQTE) Program, School-based Feeding Program, Provision of Textbooks and Other Instructional Materials, Social Pension for Indigent Senior Citizens, and the Pantawid Pamilyang Pilipino Program (4Ps), among others," Marcos said in his budget message.

The chief executive also said that the economic services sector, which covers communications, roads and other transport, agriculture and agrarian reform, trade and industry, among other economic services, will account for the second largest budget share.

To address debt burden, P699.2 billion or 12.1 percent of the proposed national budget has been allocated for interest payments on domestic and foreign debt amounting to P670.5 billion, Marcos noted.

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