President Ferdinand Marcos Jr. and his Cabinet have approved the National Expenditure Program for 2024, the Department of Budget and Management (DBM) said on Friday.
House approves proposed 5.768 trillion peso budget for 2024 on final reading
DBM Secretary Amenah Pangandaman said in a press release that the proposed 2024 national budget will continue to prioritize expenditures that support economic growth, in line with the Philippine Development Plan 2023-2028 and the government's eight-point socio-economic agenda.
“It will continue to reflect our commitment to pursue economic and social transformation to address the scars of the pandemic, as well as the impact of inflation, by prioritizing ready-made investments in infrastructure projects, investments in human capital development and sustainable agriculture and food security, among others,” Pangandaman said.
The proposed budget for 2024 is set at 5.768 trillion pesos, equivalent to 21.8 percent of GDP and 9.5 percent higher than this year's budget of 5.268 trillion pesos.
