Quick facts: 2024 National Expenditure Program

From left to right: House Minority Leader Marcelino Libanan,  DBM Secretary Amenah Pangandaman,  House Speaker Martin Romualdez, and Committee on Appropriations Chairman Zaldy Co. (Speaker’s office)






The House of Representatives officially received the P5.768-trillion National Expenditure Program (NEP) for the year 2024 from the Department of Budget and Management (DBM) on Wednesday, Aug. 2. The NEP or proposed national budget is the precursor to the General Appropriations Bill (GAB), which will eventually become the General Appropriations Act (GAA) after it hurdles Congress scrutiny and gets signed by the President. House Speaker Martin Romualdez has called the budget measure as "the most important piece of legislation". For you to be in the know, here are some quick facts on the 2024 NEP: \- The 2024 NEP is worth P5\.768 trillion\, the highest amount ever sought by the executive from Congress\. The amount is a 9\.5 percent increase from the current P5\.768\-trillion 2023 GAA\. \- The P5\.768 trillion represents 21\.8 percent of the country’s gross domestic product \(GDP\)\. -  The biggest chunk of the 2024 NEP will go to social services at P2.183 trillion (37.9 percent), followed by economic services at P1.709 trillion (29.6 percent), general public services at P893.3 billion (15.5 percent), debt burden at P699.2 billion (15.5 percent), and defense at P282.7 billion (4.9 percent). \- As per law\, the education sector \(covering Department of Education\, State Universities and Colleges\, Commission on Higher Education\, Technical Education and Skills Development Authority\) will get the biggest allocation at P924\.7 billion\. The 2023 GAA allocation for this sector was P895\.2 billion\. \- Among the 10 priority sectors \(education\, public works\, health\, interior and local government\, defense\, transportation\, social welfare\, agriculture\, judiciary\, and labor and employment\)\, the transportation sector will get the biggest budget increase at over 100 percent\, or from P106 billion in the 2023 GAA to P214\.3 billion in the 2024 NEP\. \- The sectors of public works \(from P894\.2 billion to P822\.2 billion\)\, health \(P314\.7 billion to P306\.1 billion\)\, and labor and employment \(P47\.1 billion to P40\.5 billion\) will have lower allocations in the 2024 NEP versus the 2023 GAA\. \- DBM Secretary Amenah Pangandaman pegged the total confidential funds in the 2024 NEP at P4\.3 billion across all agencies\. Intelligence funds are at P4\.9 billion\. These amounts are roughly the same the 2023 level\. \- The Build\, Better\, More Program will get an allocation of P1\.42 trillion next year\. This is equal to 5\.3 percent of the GDP\.
\- P215\.6 billion is being earmarked for the flood management program under next year's NEP\. \- The Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers program will get a budget of P12\.9 billion under the 2024 spending plan\. \- P3\.5 billion will be set aside for the government’s fuel subsidy program\. \- Since it has just been enacted\, the Maharlika Investment Fund \(MIF\) won't have an immediate impact on the eventual 2024 national budget\, says Pangandaman\. \- The House Committee on Appropriations chaired by Ako Bicol Party\-list Rep\. Zaldy Co will begin the deliberations on the NEP on Aug\. 10\. The deliberations will be done per agency\. These panel discussion will help the solons craft the GAB\. \- The House leadership intends to pass the GAB on third and final reading before the October recess\.