THE Department of Budget and Management (DBM) formally submitted to the House of Representatives the proposed 2024 national budget amounting to P5.768. trillion.

Data from the DBM showed that the next year’s budget is 9.8 percent higher than this year’s P5.267 trillion.

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

According to the DBM, the total proposed budget submitted by different departments and attached agencies is P5.9 trillion but was trimmed down to P5.768 trillion after careful evaluation and review.

Of the budget, P893.3 billion or 15.5 percent will go to general public services, P699.2 or 12.1 percent will go to debt obligations.

Some P2.183 tillion or 37 percent will be allocated to social services; P1.709 trillion or 29.6 percent to economic services and P287.2 billion or 4.9 percent to defense.

Still the Department of Education (DepED) will get the most share with P924.7 billion billion.

Other agencies with lion shares are: Department of Public Works (P822.2 billion); Department of Health (P306.1 billion); Department of Interior and Local Government (P259.5 billion); Department of Defense (P232.2 billion); Department of Transportation (P214.3 billion); Department of Social Welfare and Development (P209.9 billion); Department of Agriculture (P181.4 billion); the Judiciary (P57.8 billion) and Department of Labor and Employment (P40.5 billion).

Among the priority program of the administration are 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).

FOUR BUDGET ‘ELEPHANTS’

A lawmaker said Congress will be dealing with four “elephants” as solons scrutinize the proposed 2024 national budget.

Deputy Speaker and Batangas Rep. Ralph Recto said the four ‘elephants’ — disasters, debts; food and payroll – will be confronted when the budget deliberations start rolling in the House of Representatives.

“Typhoons do not only alter the lay of the land, they also disrupt the fiscal landscape, by causing damages that depress economic growth, and incurring expenses required to repair them.

Rebuilding damaged infrastructure, like a washed out road, is asset replacement; not creation of new assets. Walang idinagdag sa inventory; pinalitan lang,” he stressed.

Second is the debt, which is rising and so is the money required to service it.

“ Covid has retreated but like in any war, what follows is the arduous task of paying for the high cost of victory. Not all symptoms of long Covid are of the medical kind, the fiscal one is painful too.

Taxes being pushed, despite their clever marketing, are basically debt-driven,” he pointed out.

Food now takes centerstage, Recto said as it may view the budget from various standard prisms.

The payroll, including pension, is the fastest growing expenditure class for two decades now.