FOLLOWING negotiations and collaborative efforts, House Speaker Ferdinand Martin G. Romualdez, announced the successful ratification of the P5.768-trillion 2024 national budget, marking a crucial step towards addressing the pressing needs of our nation.

In a statement, Romualdez said the budget is a result of the culmination of efforts from both the Senate and House of Representatives, as they reached a consensus to reconcile divergent versions of the budget bill.

“The 2024 budget stands out for its commitment to combating inflation, aiding the impoverished, and bolstering essential social services,” Romualdez said adding that mostly are “legacy” budget allocations of President Ferdinand “Bongbong” Marcos Jr.

“At the heart of the 2024 budget is a focus on enhancing food, employment, healthcare, education, and housing for the Filipino people,” Romualdez noted.

The Speaker also said the removal of Confidential and Intelligence Funds, recognized as potential sources of corruption, reflects a commitment to transparency and good governance.

“Gratitude is extended to our Senate counterparts for supporting the proposal to reallocate these funds to agencies related to national security,” Romualdez said.

The lawmaker from Leyte added that the P5.768 trillion budget maintains a steadfast commitment to crucial sectors. President Ferdinand Marcos, Jr. envisions three Legacy Projects: Legacy Food Security, Legacy Specialty Hospitals, and Legacy Housing for the poor.

Funds have been allocated to support rice farmers with resources like water, free seeds, fertilizer, and other inputs. Investment in irrigation infrastructure will contribute to increased food production.

The speaker also said, the construction of specialty hospitals has commenced, with a budget of P1 billion each allocated to prominent institutions, including PGH, National Kidney Center, Philippine Children’s Medical Center, National Cancer Center, Bicol Regional Medical Center, and specialty hospitals in Batangas, Cavite, and Laguna.

The budget also ensures the continued provision of free medical treatment, quality hospital care, and medications for indigent citizens.

Ongoing initiatives like AICS and 4Ps persist to support those without employment. The new program, AKAP (Ayuda sa Kapos ang Kita Program), targets ‘near poor’ households earning P23,000 or less per month, benefiting around 12 million households.

The flagship housing program aims to inaugurate completed projects, providing affordable housing options with monthly amortization as low as P2,500 to P3,500, significantly below private developers’ rates.

“In summary, the 2024 budget is a testament to our commitment to the well-being of the Filipino people, addressing immediate challenges and paving the way for a more prosperous future,” Romualdez stated.