Marcos Jr. Approves P5.768 Trillion National Budget
President Ferdinand "Bongbong" Marcos Jr. has approved the proposed P5.768 trillion national budget for 2024, Budget Secretary Amenah Pangandaman said Friday.
The proposed budget is an increase of 9.5% from the previous year's budget of P5.268 trillion. It is the largest national budget in Philippine history.
The budget will be used to fund various government programs, including education, healthcare, and infrastructure. It will also be used to address the effects of inflation and the COVID-19 pandemic.
"The approved budget is a testament to the government's commitment to improving the lives of Filipinos," Pangandaman said. "It will help us achieve our goals of inclusive growth and sustainable development."
The budget will be submitted to Congress for approval in the coming weeks.
Here are some of the key highlights of the proposed budget:
Education: The education sector will receive the largest allocation, with P1.19 trillion. This will be used to improve the quality of education, including the construction of new schools and the hiring of more teachers.
Healthcare: The healthcare sector will receive P750 billion. This will be used to improve access to healthcare, including the construction of new hospitals and the hiring of more doctors and nurses.
Infrastructure: The infrastructure sector will receive P640 billion. This will be used to build new roads, bridges, and railways, as well as to improve the country's power grid.
Social protection: The social protection sector will receive P350 billion. This will be used to provide social assistance to the poor and vulnerable, including the elderly, the disabled, and single mothers.
The proposed budget is a significant investment in the future of the Philippines. It will help to improve the lives of Filipinos and to create a more prosperous country.
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