Marcos signs P5.768-trillion national budget for 2024

PRESIDENT Ferdinand Marcos Jr. has signed into law the P5.768-trillion national budget for 2024.

The 2024 budget, which was ratified by the House of Representatives and the Senate on December 11, is 9.5% higher than this year’s P5.268-trillion national budget.

In his speech at the signing ceremony in Malacañang on Wednesday, Marcos reminded agencies to fight red tape “that leads to underspending and overspending that disregards legal guardrails.”

“Implementation delay and illegal deviations inflict the same havoc of denying the people of the progress and development that they deserve,” he said.

“So, with this reminder comes the most important budget commandment that we must all receive. We are working for the people not for ourselves. We are working for the country not for ourselves,” he added.

Marcos said the 2024 General Appropriations Act contains the administration’s plans in fighting poverty and combating illiteracy, in producing food and ending hunger, in protecting homes and securing borders, in keeping people healthy, in creating jobs and funding livelihood.

“Good government dictates upon us the duty to spend the appropriations we have cobbled together for the correct purposes, the right way, on time, and on budget,” he said.

with a report from Carl Santos