House plenary debates begin for P5.26T 2023 budget
THE House of Representatives, under Speaker Martin G. Romualdez, has started plenary deliberations on the P5.26-trillion national budget for 2023 to expedite its passage to help the economy recover from the devastating impact of the coronavirus disease-19 (COVID-19) pandemic, as well as to address urgent economic issues.
Ako Bicol Party-list Representative Zaldy Co, chairman of the House Committee on Appropriations, sponsored the General Appropriations Bill (GAB) after weeks of holding hearings on the specific budgets of the various government agencies.
“The House Appropriations Committee has completed its constitutional function promptly and thoroughly… The timely passage of the General Appropriations Bill ensures the fulfillment of the Marcos Administration’s Agenda for prosperity and economic transformation,” Co said.
“It will help in the immediate recovery of the economy from the lingering effects of the COVID-19 pandemic, as well as in responding to the urgent issues of rising inflation, which is driven by internal and external factors; socio-economic scarring; and low income,” Co added.
Co said that of the proposed P5.268 trillion budget, P4.259 trillion will be for the operation of the national government, consisting of P3.671 trillion in programmed new appropriations and P588 billion in unprogrammed appropriations.
The bill, which will soon be transmitted to the Senate for deliberation, “embodies the 8-point socio-economic agenda of this administration comprised of food security, improved transportation, affordable and clean energy, health care; social services, education, bureaucratic efficiency, and sound fiscal management,” Co said.
Co said the proposed national budget is built on the three pillars seeking to strengthen the purchasing power of Filipinos, reduce vulnerability and mitigate scarring from the COVID-19 pandemic, and enhance bureaucratic efficiency.
“The President’s budget message clearly underlines that the overall goal is to reinvigorate job creation and reduce poverty by steering the economy back to its high-growth path in the near term and sustaining its high, inclusive, and resilient growth in the long term,” Co said.
The House official said 69% of the expenditures, or P3.633 trillion, will be funded by projected revenue collections while the rest will be borrowed.
The Executive Department submitted the 2023 National Expenditure Program on August 22, 2022, within 30 days from the opening of the regular congressional session on July 25.
“In solidarity and with a united front, we shall be able to deliver the necessary tools and resources with this budget to improve the lives of our constituents and uplift their hope for a better quality of life and future prosperity and advancement of the Filipino people,” Co said.
