The Department of Budget and Management (DBM) has ruled out the possibility of a reenacted budget for next year following the House of Representatives' swift approval of the 2024 general appropriations bill (GAB).

In a statement on Thursday, Sept. 28, Budget Secretary Amenah F. Pangandaman lauded the quick approval of House Bill No. 8980, which represents the Marcos administration's 2024 national budget.

She stated that the timely passage of the bill by the Lower House puts the Marcos administration on track to achieve its development goals of inclusivity for all Filipinos.

“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,” Pangandaman said.

If Congress does not approve a new budget before the start of the next year, the government will be forced to operate under a reenacted budget, utilizing the appropriations from the previous year. 

This can have significant consequences as government agencies will be constrained to adhere to spending levels of the previous year, potentially affecting the implementation of new programs, projects, and initiatives outlined in the proposed budget for the current year.

The 2024 GAB secured a majority vote as 296 lawmakers voted in favor during the third and final reading on Wednesday night, Sept. 27. 

Additionally, the House agreed to assign a small committee to assess proposed amendments before transmitting them to the Senate.

The proposed national budget for 2024 amounts to P5.768 trillion, reflecting a 9.5 percent increase compared to this year's P5.267 trillion budget. This figure represents approximately 21.7 percent of the Philippines' gross domestic product.

Once both the House and the Senate approve their respective versions of the 2024 GAB, a Bicameral Conference Committee, or Bicam, will be formed by both Houses.

The Bicam will collaborate to create a harmonized version of the budget bill, which will then be subject to voting for ratification by both Houses.

Subsequently, the ratified 2024 GAB will be forwarded to the President, who holds the authority to veto or impose conditions on specific items within the General Appropriations Act (GAA). 

The budget legislation is completed once the President signs the General Appropriations Act into law. (Gabriell Christel Galang)