MANILA, Philippines — The Home of Representatives on Wednesday acquired from the Division of Funds and Administration (DBM) the proposed P5.768 trillion nationwide price range for 2024, and the early phrase from the company revealed it’s virtually 10 p.c larger than 2023’s.
DBM Secretary Amenah Pangandaman formally submitted the 2024 Nationwide Expenditures Program (NEP) to Speaker Ferdinand Martin Romualdez in a ceremony held 9 days after President Ferdinand Marcos Jr. delivered his second State of the Nation Tackle.
Preliminary data from the DBM confirmed that the proposed price range is 9.5 p.c larger than the P5.267 trillion Normal Appropriations Act (GAA) or the enacted price range for 2023.
As mandated by the 1987 Structure, the training sector will get the very best allocation within the proposed 2024 nationwide price range with P924.7 billion, which is larger than the P895.2 billion authorised within the 2023 GAA.
Public works or infrastructure packages get P822.2 billion within the proposed 2024 nationwide price range, which is decrease than 2023’s P894.2 billion. Allocation to well being additionally decreased from P314.7 billion within the 2023 GAA to P306.1 billion within the 2024 NEP.
However proposed appropriation for protection elevated within the 2024 NEP to P232.2 billion from P203.4 billion within the 2023 GAA. Funds shares for transportation (P106.0 billion to P214.3 billion) and social welfare (P199.5 billion to P209.9 billion) likewise elevated beneath subsequent yr’s proposed NEP.
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