President Ferdinand “Bongbong” Marcos Jr. (PBBM) has signed into law the General Appropriations Act (GAA) of 2024 which consists of a P5.768-trillion national budget during a ceremonial signing in Malacañang on Wednesday, December 20.
“Today, we sign the national budget, the instrument which tells how the taxes paid by the people will be returned to them,” he said.
The priorities for this budget would be ensuring food security, reducing transport and logistic costs, strengthening social protection, ensuring sound fiscal management, reducing energy costs, and other important matters that concern the advanced social and economic transformation.
Out of the P5.768-trillion national budget, P40.5 billion is allocated to Labor and Employment sectors like the Department of Labor and Employment and the Department of Migrant Workers. The DMW initially requested P29.49-billion but was only granted P15.54-billion as approved by a Senate panel last September.
The approval of the national budget was attended by Senate President Juan Miguel Zubiri, House Speaker Martin Romualdez, and other distinguished guests. Vice President Sara Duterte was not present at the event.
It can be recalled that the General Appropriations Bill (GAB) denied the request of confidential funds amounting to P650 million, from the Office of the Vice President and the Department of Education, which are headed by Sara Duterte. The funds were then allocated to agencies responsible for protecting the Philippines’ territorial rights in the West Philippine Sea.
