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Friday, September 20, 2024

Speaker: P6.35-t budget next year to ensure inclusive growth

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Speaker Ferdinand Martin G. Romualdez on Monday said the P6.352-trillion 2025 national budget aims to sustain the country’s economic growth and benefit all Filipinos.

“The direction of our budget is clear in the year 2025. Ensure the continued rise and strengthening of the economy. Ensure that all Filipinos benefit from this development. Strengthen good governance for the good of all,” Romualdez said.

He made the statement at the start of the hearings of the House of Representatives on the budget President Ferdinand R. Marcos Jr. has proposed to Congress for next year.

Budget Secretary Amenah Pangandaman, Finance Secretary Ralph Recto, Secretary Arsenio Balisacan of the National Economic and Development Authority, and Governor Eli Remolona Jr. of the Bangko Sentral ng Pilipinas will brief House members on the President’s budget proposal.

Romualdez said the national outlay “is the best tool we have to ensure that all our people, especially the poor, feel the tangible benefits of our economic achievements.”

He said by prioritizing programs that uplift the most vulnerable and provide essential services, the budget “serves as a bridge, connecting our economic successes with the daily lives of our people.”

“It is a testament to our commitment to inclusivity and equity, ensuring that the progress we make as a nation is shared by all,” the leader of the 308-strong House of Representatives said.

“Our mission is clear in studying the 2025 budget. We will all return to the Filipinos the taxes collected through programs and projects that benefit them. We will make sure that the government service is for everyone. Simultaneous lifting. No one will be caught. No one will be left behind,” he stressed.

Romualdez also said the 2025 national budget aligns with the Marcos administration’s spending priorities that follow the three pillars of the Philippine Development Plan 2023-2028, which are: 1).   Develop and protect the capabilities of individuals and families;  2)   Transform production sectors to generate more quality jobs and competitive products, and  3)  Create an enabling environment by ensuring macroeconomic stability, improving bureaucratic efficiency and practicing good governance, among other key strategies.

“The national budget is a critical tool for steering a country’s development path. It not only determines how resources are allocated but also sets the policy direction for economic growth, social equity, and environmental sustainability,” the House leader said.

He said on top of the spending priority list is education with an allocation of P977.6 billion, followed by public works with P900 billion, health with P297.6 billion, interior and local government with P278.4 billion, defense with P256.1 billion, social welfare with P230.1 billion, agriculture with P211.3 billion, transportation with P180.9 billion, judiciary with P63.6 billion, and justice with P40.6 billion.

“In the performance of our duty to allocate our financial resources, we bear the utmost responsibility to ensure that the budget proposals of every department and agency correspond with the welfare and advancement of the Filipino people and target their priorities and needs,” Speaker Romualdez told his colleagues.

He said it is critical for lawmakers “to exercise vigilance and guarantee that the allocation is utilized in accordance with its intended purpose,” adding that the House “plays a crucial and indispensable role in shaping the government’s policy-making direction.”

“Let us use this influence cautiously by promoting transparency and accountability. I am determined that with your diligence, we could strengthen the capacity of the government to secure the future of our nation,” he said.

He urged House members to engage officials of the executive branch “in open discussions during the deliberations while maintaining patience and understanding towards one another.”

“Let us engage in this process with the utmost integrity and a deep-seated commitment to transparency and accountability, ensuring that our decisions today will lead to a brighter, more equitable tomorrow for all,” he said.

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