Congress has achieved a rare feat with Friday afternoon's signing of the P5.268-trillion national budget for 2023, according to House Speaker Martin Romualdez.
“As far as I can remember, the 2023 budget is one of the few spending bills signed into law in mid-December, way before the start of its implementation on New Year’s Day,” Romualdez said in a statement Friday, Dec. 16 shortly after President Ferdinand "Bongbong" Marcos Jr.
Passing the 2023 General Appropriations Bill (GAB), which contains the national budget, is a shared duty of the House of Representatives and the Senate---the two chambers of the Philippine legislature (Congress).
The House gets first crack at scrutinizing the executive branch's proposed budget for a given year, which is usually transmitted to Congress following the President's State of the Nation Address (SONA).
The eventual budget bill or GAB is then approved by the House and sent to the Senate. The Senate approves its own version of the GAB, and then representatives of the two members meet to harmonize the two bills.
The House and the Senate ratified the harmonized and consolidated 2023 GAB last Dec. 5.
Romualdez had correctly predicted that Marcos would sign the P5.268-trillion budget after the latter came home from his trip to Belgium. The President arrived on Thursday night.
House Appropriations Committee Senior Vice Chairperson and Marikina City 2nd district Rep. Stella Quimbo earlier said that the GAB could be signed before Christmas, thanks to the early convening of the Bicameral Conference Committee between the House members and senators.
Romualdez, Leyte's 1st district congressman, gave further context to the importance of the GAB's enactment.
“It is the most important and potent tool the President, his economic team and the entire government can use to accomplish the goals of the prosperity roadmap,” the Speaker said.
Romualdez said the administration, principally the Department of Budget and Management (DBM), now has enough time to prepare for the release of funds appropriated in the 2023 budget law.
“The money needed to sustain our economic expansion momentum and keep the country on the high-growth path should be out on Jan. 1. Agencies should be ready to keep up with their programs, activities and projects, while observing transparency and accountability,” he added.
For his part, House Majority Leader and Zamboanga City 2nd district Rep. Mannix Dalipe said Marcos's early signing of the GAB is "proof of the...administration’s unparalleled commitment to quickly set into motion all the programs needed to revive the economy".
"This shows that the President fully understands the need to sign the budget bill without delay to quickly address the needs of our people," Dalipe said.