MANILA — President Ferdinand R. Marcos Jr. declared on Friday his intention to promptly endorse the 2024 General Appropriations Bill (GAB) once it arrives at his desk.
During a media interview on the sidelines of an event in Muntinlupa City, Marcos conveyed that he is eagerly awaiting the final bicameral conference committee report on the proposed PHP5.768 trillion national budget for 2024.
“As of now, the bicam report has not been released. We’re awaiting its completion. It may be submitted today or in the coming days,” Marcos stated.
He asserted, “Certainly, the moment it is finalized, we will promptly enact the 2024 GAB into law.”
Marcos, slated to depart for Japan on Friday afternoon for the 50th Association of Southeast Asian Nations-Japan Friendship and Cooperation Commemorative Summit, expressed confidence that the 2024 GAB would be signed into law before Christmas.
Addressing any concerns about the proposed budget spending for the upcoming year, Marcos urged inquiry with the bicameral committee regarding their schedule. However, he affirmed, “I think we will do it before Christmas.”
“We have conducted consultations throughout the year, and I would be very surprised if unforeseen issues suddenly arise. I don’t foresee any problems,” he added.
The bicameral conference committee greenlit the reconciled provisions of the GAB on Monday morning.
The proposed 2024 budget, constituting 21.7 percent of the gross domestic product (GDP), reflects a 9.5 percent increase over the PHP5.268 trillion 2023 budget.
Aligned with the theme, “Agenda for Prosperity: Securing a Future-Proof and Sustainable Economy,” the 2024 national budget is shaped by the 8-Point Socioeconomic Agenda and will continue to support the objectives of the Philippine Development Plan 2023-2028, aiming for a future-proof and sustainable vibrant economy.
(ai/mnm)
