House set to receive proposed P5.268-trillion 2023 national budget


Posted at Aug 21 2022 03:07 PM | Updated as of Aug 21 2022 04:39 PM

MANILA — The House of Representatives (HOR) on Sunday is set to receive Monday the proposed P5.268-trillion national budget for 2023 from the office of President Ferdinand Marcos Jr., which has been described as the "highest-ever spending proposal of the government."

The proposal covers the first full year of Marcos Jr.'s term as the country's chief executive, the HOR said in a statement on Sunday.

Marcos, through Budget Secretary Amenah Pangandaman, will be submitting the National Expenditure Program (NEP), the executive branch's version of the national budget.

Marcos' cousin, House Speaker Martin Romualdez, will lead the HOR delegation that will receive the budget, along with Majority Leader Manuel Jose "Mannix" Dalipe, Minority Leader Marcelino Libanan, House Committee on Appropriations chairman and Ako Bicol Party-list Rep. Zaldy Co and his senior vice chairperson, Marikina City Rep. Stella Luz A. Quimbo.

The turnover ceremony will be held at 10 a.m. at the social hall of the Speaker’s Office.

Under the 1987 Constitution, the President "shall submit to the Congress within 30 days from the opening of every regular session, as the basis of the general appropriations bill (GAB), a budget of expenditures and sources of financing, including receipts from existing and proposed revenue measures," the HOR said.

It noted that the 2023 proposed budget is P244 billion higher than the P5.024-trillion budget for 2022.

House leaders earlier vowed to finish deliberation on the budget proposal before Congress goes on its first recess on Oct. 1 to Nov. 6.

"I can confidently say that we can make the Sept. 30 deadline,” Dalipe had told reporters.

The House's appropriations committee will begin hearings on the NEP on Aug. 26 with a briefing by the Marcos administration’s economic managers on the macro-economic parameters used in putting the spending proposal together.

Quimbo, senior vice chairman of the House Committee on Appropriations, said the committee aims to finish its hearings by Sept. 16 to give the House two weeks for plenary deliberations and third and final reading approval before the Oct. 1 recess.

She said the committee is committed to the swift approval of the proposed “economic recovery budget.”

“Rest assured that Congress shall work tirelessly to approve a budget that is responsive to the needs of the people and is able to bring inclusive and sustainable growth,” the Marikina Solon said.


Watch more News on iWantTFC