MANILA: President Ferdinand R. Marcos Jr. is set to sign into law within the week the PHP5.76-trillion 2024 national budget, House Speaker Martin Romualdez said on Monday.
‘It’s ready for [signing], I think, [on] Wednesday. Wednesday na ata ‘yung signing po (I think the signing is on Wednesday),’ Romualdez told reporters in Tokyo on Monday.
Romualdez said Marcos initially planned to sign the national budget into law before leaving for Japan.
He clarified however that there were still some printing requirements needed before the President could sign the national outlay document.
Marcos is set to return to Manila from Japan Monday after his participation in the 50th Commemorative of the ASEAN-Japan Friendship and Cooperation Summit.
Last week, the Senate and the House of Representatives ratified the proposed 2024 budget.
The proposed 2024 budget, which is equivalent to 21.7 percent of the country’s gross domestic product, is 9.5 percent higher compared to the PHP5.268 trillion 2023 budget.
Budget for WPS
defense
Romualdez said the national budget contains enough funds for the robust defense of the West Philippine Sea (WPS).
He said Philippine Coast Guard (PCG) has been allocated more funds as recent aggressive activities by China in the WPS have ‘steeled’ the country’s determination to protect disputed islets and other sea features that belong to it under international law.
During a media interview on the sidelines of the 50th ASEAN-Japan Friendship and Cooperation Commemorative Summit in Tokyo, Japan, Romualdez said the PCG is receiving five additional patrol vessels from Japan.
He said the House followed the parameters set by the executive branch.
‘Sumunod lang naman kami sa mga (We just followed the) parameters and we’ve been working closely with OP (Office of the President) and all the departments,’ he said.
Romualdez said both the House and the Senate agreed to delete the confidential and intelligence funds (CIF) of the civilian agencies and offices and transferred it to the law enforcement offices
.
‘And the President is of that mind that as much as possible to minimize the CIFs of the civilian department or agencies and rather focus where, you know, where it’s best suited: dito sa mga (in the) security issues, ‘yung (the) defense, ‘yang sa (for the) Coast Guard, the West Philippine Sea,’ he said.
Source: Philippines News Agency
