MANILA -- The Marcos Jr. administration’s first national budget inches closer to approval as the Senate commences its deliberation on the Fiscal Year (FY) 2023 General Appropriations Bill today, 08 November 2022.
During the plenary session, House Bill 4488 entitled “An Act Appropriating Funds for the Operation of the Government of the Republic of the Philippines from January One to December Thirty-One, Two Thousand and Twenty-Three, and for other purposes (2023 General Appropriations Act)” was filed and sponsored by Finance Committee Chairperson Senator Sonny Angara.
Earlier, Department of Budget and Management (DBM) Secretary Amenah F. Pangandaman expressed confidence over the passage of the proposed P5.268-trillion 2023 national budget by yearend with the commitment given by the Senate and the House of Representatives.
“We are on track. Both Houses have committed to passing the budget on time. So, I think we will all have a good Christmas,” Secretary Pangandaman said.
Meanwhile, Senator Angara highlighted that the 2023 National Expenditure Program (NEP) closely follows the Medium-Term Fiscal Framework (MTFF) of the Marcos administration, which aims to usher economic transformation towards inclusivity and sustainability. He also underscored that the committee supports the agenda of prosperity it prescribes.
“The President has made it clear in his message to us that every peso that he seeks to spend in 2023 is aligned with this administration’s thrusts. And what are these? To boost growth. To cut poverty. To trim the deficit. To pare down debt. And to catapult us to the league of upper middle-income nations,” Senator Angara said in his sponsorship speech.
“Kaya, kung bibilangin natin – ilang daan ba ang magagawa, mga patabang maibibigay, mga patrol ng pulis na madedeploy, mga kaso sa korte na matatapos, mga scholarship na mabibigay, mga R&D projects na ilulunsad, mga titser na masweswelduhan sa ilalim ng budget na ito – hindi lang sila mga hiwa-hiwalay na budget items lamang. Lahat po sila nakatahi sa mga pangarap natin para sa bansa,” Senator Angara added.
Senators are expected to hold marathon deliberations on the proposed 2023 national budget as it resumed regular sessions on Monday, 07 November 2022.
To recall, the House of Representatives passed on the 3rd and final reading House Bill No. 4488 or the 2023 GAB on 28 September 2022.
After the House and the Senate approve their versions of the GAB, they each form a panel of lawmakers that will constitute the Bicameral Conference Committee or Bicam. The Harmonized or “Bicam” version of the GAB is then submitted back to both Houses, which then vote to ratify the final GAB. Both Houses then submit or “enroll” the ratified GAB to the President.
The President may veto or set conditions for the implementation of certain items in the GAA, which are then specified in the President’s Veto Message. Budget legislation ends when the President signs the General Appropriations Act (GAA) into law. (DBM)
