Education still top priority in proposed P5.768T 2024 budget —DBM

The education sector will get the bulk of allocation under the proposed P5.768 trillion national budget for 2024, a top official of the Department of Budget and Management (DBM) said Tuesday.

“Education remains top priority mandated by the Constitution. It shall cover 15-20% of fiscal year 2024 budget,” DBM Undersecretary Joselito Basilio said during the Post-State of the Nation Address (SONA) Philippine Economic Briefing in Pasay City.

The 1987 Constitution provides that “the State shall assign the highest budgetary priority to education.”

Basilio said the budget allocation for education shall be used for “items to address learning losses” during the pandemic, when schools were closed and modular and online learning methods were implemented.

Last month, President Ferdinand "Bongbong" Marcos Jr. already approved the proposed national budget next year during a Cabinet meeting.

The proposed budget is higher by 9.5% compared to this year’s P5.268 trillion.

Budget Secretary Amenah Pangandaman had expressed hopes that the 2024 budget will be approved by Congress faster than last year as it will be submitted earlier.

Basilio said the 2024 budget will continue to be anchored on the Marcos administration’s Eight-point Socioeconomic Agenda.

“That means we will spend on ensuring food security. Provide allocation for the DA’s (Department of Agriculture) banner programs on prime commodities such as rice, high value crops, fisheries, among others… spending on reducing transports and logistics costs,” the DBM official said.

He added that next year’s budget will also be consistent with the government’s target to spend 5% to 6% of gross domestic product on infrastructure.

Marcos, in his second SONA, said his administration will maintain its infrastructure spending at 5% to 6% of GDP. 

“The bulk will be allocated for physical infrastructure aimed at improving connectivity throughout the country through the construction of accessible road networks and railways,” Basilio said.

He added that significant funding support will be allocated for construction of school buildings and health centers.

The budget will also focus on reducing energy costs and promoting investment in energy.

The DBM official added that the government will continue to provide accessible and inclusive public health services.

Budget priorities will also focus on social protection programs such as the Pambansang Pabahay para sa Pilipino Housing (4PH) Project and the Food Stamps Program, Basilio said.

In a separate news release, the DBM said it has presented to the Office of the President the proposed P5.768 trillion budget for 2024 on Tuesday, a day after the President’s second SONA.

Submission on August 2

“We will present this to Congress, we will defend the President's budget as much as we can. Our [national] budget is a budget that is responsive to the pressing issues that we have now. At ito pong budget na to ay magsasabi na meron po tayong Bagong Pilipinas,” said Pangandaman.

The Budget chief said the 2024 budget will be submitted to the House of Representatives on August 2.

“The proposed national budget will continue to prioritize expenditure items that promote social and economic transformation through infrastructure development, food security, digital transformation, and human capital development,” Secretary Pangandaman said.

Under the Constitution, the national budget must be submitted to Congress within 30 days following the President's SONA. —VAL, GMA Integrated News