THE Department of Budget and Management (DBM) expressed its deep appreciation to the House of Representatives for the speedy and timely passage of House Bill 8980 or the 2024 General Appropriations Bill (GAB) on Wednesday.
“Our most profound gratitude to the honorable members of the House of Representatives, under the competent leadership of Speaker Ferdinand Martin Romualdez, for their robust support and for prioritizing the welfare of the Filipino people by ensuring on-time approval of the 2024 General Appropriations Bill,” DBM Secretary Amenah Pangandaman said.
Pangandaman pointed out that with the measure’s timely passage by the Lower House, the administration of President Ferdinand Marcos, Jr. is on track to achieve its development goals for the country where no Filipino will be left behind.
“The approval of the GAB is a solid indication that we are on track for the timely enactment of the 2024 national budget— we are on track to achieving our Agenda for Prosperity – para sa Bagong Pilipinas,” the Budget chief emphasized.
On third and final reading, the 2024 GAB got a majority vote with 296 lawmakers voting on the measure. Alongside this, the House will delegate a small committee to evaluate the proposed amendments before transmitting it to the Senate.
The proposed P5.768-trillion national budget for 2024 marks a 9.5-percent increase compared to this year’s P5.267-trillion budget. It corresponds to approximately 21.7 percent of the Philippines’ gross domestic product.
After the House and the Senate approve their versions of the 2024 GAB, both Houses will form the Bicameral Conference Committee or “Bicam,” where the harmonized or “Bicam” version will be given to both Houses to vote for its ratification. The ratified 2024 GAB will then be sent to the President who can veto or place conditions on certain items in the General Appropriations Act (GAA). The budget legislation concludes when the President signs the General Appropriations Act into law.
DBM budget and lump sum funds approval
Before the approval of the 2024 GAB, the legislators duly deliberated and endorsed the budget provision for the Department of Budget and Management (DBM) and the lump sum funds for the subsequent year.
Senior Deputy Minority Leader Representative Paul Ruiz Daza queried the DBM on its technological preparedness to accurately track inter-departmental transfers.
Representative Francisco Jose Matugas, Vice Chair of the Appropriations Committee and sponsor of the debate, disclosed plans of the DBM for a newly devised system slated for implementation next year. This advanced platform is intended to oversee and monitor the transmission of financial resources from the Bureau of Treasury to the DBM, including all connected agencies, thereby incorporating inter-agency fund transfers. A sum of P700 million has been provisioned for the digitalization and enhancements of the DBM’s systems.
Matugas also confirmed to Daza the status of the Special Allotment Release Order (SARO) for the approximate P4 billion funds earmarked for the Tertiary Educational Subsidy (TES) program.
The TES program, mandated by the Universal Access to Quality Tertiary Education Act or Republic Act 10931, aspires to support financially challenged students in both state and private institutions by granting them living allowances.
“Na-realize na po itong hinihingi natin, and (according to) the good Secretary of DBM, pina-process na po ang budget at lalabas na po siya next week,” Rep. Matugas said.
The P4 billion, sourced from the Higher Education Development Fund, will be used to settle liabilities for academic year 2021-2022.
“I subscribe to the saying, give credit where credit is due. So allow me to thank the sponsor, the Secretary of the DBM for that, no less than the Speaker…. Thank you so much for helping on that advocacy… Thank you so much for helping the poor students nationwide for our TES program,” said Rep. Daza.
“Having no more members from the minority (to interpellate) and hearing the good news from the DBM on our TES program, I am happy to make the appropriate motion to terminate the period of sponsorship and debate for the fiscal year budget of the DBM in 2024,” he added.