Marcos certifies proposed P5.768-T budget for 2024 as urgent

President Ferdinand "Bongbong" Marcos Jr. has certified as urgent the passage of the proposed P5.768-trillion national budget for 2024. 

In a letter addressed to Speaker Martin Romualdez dated September 20, Marcos said the immediate enactment of the General Appropriations Bill (GAB) was needed to maintain continuous government operations following the end of the fiscal year 2023 and to expedite the funding for various programs.

Marcos also said certifying the bill as urgent would ensure budgetary preparedness, which will enable the government to perform its constitutional mandate.

This certification from the president allows the approval of a bill on the second and third reading on the same day.

The proposed 2024 national budget is 9.5% higher compared to this year's P5.268 trillion.

The Department of Budget and Management earlier said the proposed budget focuses on prioritizing expenditures for the country's economic growth and addressing the effects of inflation.

It added that the total amount of confidential and intelligence funds across all agencies in the proposed 2024 budget is P10.14 billion, including P4.5 billion for the Office of the President (P2.25 billion confidential and P2.31 billion intelligence fund) and P500 million for the Office of the Vice President. —VBL, GMA Integrated News