The Marcos administration is sticking with the proposed 2023 national budget approved by former President Duterte, the Department of Budget and Management (DBM) said.
Budget Secretary Amenah F. Pangandaman said the new administration adopted the P5.268-trillion national expenditure program (NEP) of the previous government and will be submitted to Congress two days before the August 24 deadline.
Pangandaman said the first full-year budget of President Marcos was also approved by the Development Budget Coordination Committee (DBCC), an inter-agency body tasked to set the government’s macroeconomic assumptions.
“As discussed during the DBCC meeting, we will stick with the P5.2 trillion as previously announced,” Pangandaman said.
The 2023 budget cap was pegged by the inter-agency body last March 24. It is equivalent to 22.1 percent of the country’s gross domestic product. The amount is also higher than the P5.242 trillion approved in December 2021.
“We will submit the budget to Congress on August 22," Pangandaman said.
Under the Constitution, the executive department shall submit the proposed national budget to Congress within 30 days from the opening of the regular session of the Congress.
The 19th Congress is scheduled to open on July 25, thus President Marcos has until August 24 to submit to lawmakers his proposed budget for next year.
Last June 2. Pangandaman said that then President-elect Marcos wanted his 2023 NEP, which presented the proposed budget allocation by agency, will be focused on priority areas anchored on economic reconstruction.
The new administration’s focus areas include agricultural and food security, climate change adaptation, economic recovery, as well as improved healthcare and education.
Moreover, the incoming chief executive wants to prioritize spending on enhanced infrastructure projects including digital infrastructure, and utilization of renewable energy sources.
The Marcos government also wanted to strengthen tourism and jobs creation, as well as sustainable development, among others, she said.
“I aspire to draft and implement a budget that will promote a broad-based and inclusive economic recovery and growth,” Pangandaman said. “President Marcos’ priority programs are in line with that.”