DBM send budget 5.27-T on time

The Department of Budget and Administration (DBM) is on the way to submit its proposed P5.268-Trillion 2023 National Budget to Congress on August 22.

Budget Minister Amina F. Pangandaman Timetables for the proposed national budget for next year were among the matters discussed at a Thursday morning meeting between the Marcos administration’s economic team and some members of the House of Representatives chaired by Speaker Leyte MP Ferdinand Martin Romualdez.

β€œIt was just a quick breakfast meeting. We discussed budget timelines and we committed to that from our end I will present NEP [National Expenditure Program] 2023 on August 22,” Pangandaman told BusinessMirror.

DBM will deliver on time. In fact, we are now in the process of printing budget documents.”

Pangandaman said earlier that the proposed national budget for next year was 4.9 percent higher than this year’s 5.024 trillion pesos, but this was the smallest increase in a decade. The administration’s top budget priorities for next year include education, health, social safety nets, infrastructure, and agriculture.

Apart from the budget, Pangandaman said the legislative agenda was also discussed during the meeting, adding that the National Economic and Development Authority will convene the Legislative-Executive Development Advisory Board (LIDAC) “soon”.

Lidak acts as an advisory and advisory body to the President as the head of the National Agency for Economics and Planning to further advise and advise on specific programs and policies necessary to achieve the objectives of the national economy. It also serves as a venue to facilitate high-level policy discussions on vital issues and concerns that affect national development.

Several lawmakers recently urged the executive branch to convene a Lydak meeting soon, arguing that the relative inactivity of the previous administration’s advisory body was partly responsible for the less-than-ideal communication between the executive and Congress, which in turn led to vetoes of many bills that were passed. by the Eighteenth Congress.

President Ferdinand Marcos Jr., in his first State of the Nation address, called on the 19th Congress to pass 19 priority measures to aid his administration in the next six years.

The priority bills promulgated by the President include: The National Government Budget Program. Budget Modernization Bill Evaluation Reform Bill; Passive Income Tax and Financial Intermediary Act; Online Transactions Law or E-Commerce Law; consolidated initiatives of state financial institutions for distressed institutions for economic recovery; Enact an enabling law for the natural gas industry; Amendments to the Electric Power Industry Reform Act or EPIRA; and amendments to the Build, Operate and Transfer (BOT) Act, among others.

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