IN PHOTOS: Finance Secretary Ralph G. Recto has thanked the House of Representatives’ Committee on Appropriations panel for endorsing the Department of Finance’s (DOF) PHP 33.75-billion budget for fiscal year 2025 which prioritizes digitalization for efficient tax administration and better public service.
Sultan Kudarat Representative and Committee on Appropriations Vice Chair Horacio Suansing sponsored the DOF budget before the House plenary on September 16, 2024.
In his sponsorship speech, Suansing manifested his support to increase the budget for the Bureau of Internal Revenue (BIR), the Bureau of Customs (BOC), the Bureau of Local Government Finance (BLGF), and the Philippine Tax Academy (PTA).
In addition, Representative Suansing also called for the replenishment of the People’s Survival Fund (PSF) to support numerous climate adaptation projects of local communities.
“In view of this chamber’s pursuit to undertake productive investments, particularly in our local institutions to strengthen our macroeconomic fundamentals and thereby protect the country's long-term growth and development prospects, I appeal to my colleagues in Congress to do the same,” he said.
The DOF’s proposed budget for 2025 of PHP 33.75 billion is 20.8% higher than the 2024 General Appropriations Act (GAA) level but represents only 0.5% of the government’s total proposed 2025 national budget of PHP 6.352 trillion.
To prioritize workforce development and the digitalization of its attached agencies, 41.4% of the DOF’s proposed budget is allocated to Personnel Services, 37.9% to Maintenance and Other Operating Expenses (MOOE), and 20.6% to Capital Outlays.
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