<\/p>\n
THE House of Representatives under the leadership of Speaker Ferdinand Martin Romualdez on Monday, Aug, 5, 2024 has started its deliberation on the proposed P6.352-trillion national budget for Fiscal Year 2025 with a briefing from the Development Budget Coordination Committee (DBCC), the economic team of President Ferdinand R. Marcos Jr..<\/strong><\/p>\n Department of Budget and Management (DBM) Secretary Amenah Pangandaman, Department of Finance (DOF) Secretary Ralph Recto, National Economic Development Authority (NEDA) Secretary Arsenio Balisacan, and Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. were welcomed by Speaker Romualdez and Committee on Appropriations chairperson Elizaldy Co in the plenary as they present the macroeconomic assumptions used in putting together the country\u2019s national spending plan for 2025.<\/p>\n Speaker Romualdez underscored that the national budget is the best tool in ensuring that all Filipinos, especially the poor, feel the tangible benefits of our country\u2019s economic achievements.<\/p>\n The Speaker also emphasized that the national budget does not only determine how government resources may be allocated but also sets the policy direction for economic growth, social equity, and environmental sustainability.<\/strong><\/p>\n <\/p>\n <\/p>\n Romualdez said programs that will uplift the most vulnerable and provide essential services shall be prioritized.<\/strong><\/p>\n <\/p>\n <\/p>\n The Speaker said he and his colleagues would like to know from the administration\u2019s economic managers \u201chow the country could sustain its economic growth and how such growth could benefit our people.\u201d<\/strong><\/p>\n <\/p>\n <\/p>\n \u201cOur economic expansion, projected by multi-lateral financial institutions at between 5.9-6.2 percent next year, should be felt by our people, especially the poor, in terms of more job and income opportunities, more affordable food on their table and lower consumer prices,\u201d he said.<\/strong><\/p>\n <\/p>\n <\/p>\n He said many of the poor complain that the economic boom is benefitting only the rich, the big companies, and stock and financial market investors.<\/strong><\/p>\n <\/p>\n <\/p>\n \u201cThey say they cannot eat economic growth. If majority of our people do not feel our economic expansion, they should at least see it in terms of the proper use of the national budget for social services, education, health, infrastructure, and direct financial assistance to the poor and other vulnerable sectors,\u201d he stressed.<\/strong><\/p>\n <\/p>\n <\/p>\n The leader of the 300-plus-strong House of Representatives added that he would like to see increased allocations for these services and pro-poor programs.<\/strong><\/p>\n <\/p>\n <\/p>\n \u201cMaybe, we cannot get all the data from our resource persons tomorrow, but this is a forewarning to all agency heads who will be asked to attend our hearings: they should better be prepared when it is their turn to face us,\u201d Romualdez said.<\/strong><\/p>\n <\/p>\n <\/p>\n On Tuesday, officials of the Philippine Amusement and Gaming Corporation and Philippine Charity Sweepstakes Office will brief the committee on appropriations on their operations.<\/strong><\/p>\n <\/p>\n <\/p>\n The two agencies are major contributors to the national treasury, along with the Bureau of Internal Revenue and Bureau of Customs.<\/strong><\/p>\n <\/p>\n <\/p>\n The Department of Environment and Natural Resources and the Department of Human Settlements and Urban Development will be on deck on Wednesday.<\/strong><\/p>\n <\/p>\n <\/p>\n It will be the turn of the Department of Energy, Commission on Higher Education and Energy Regulatory Commission on Thursday.<\/strong><\/p>\n <\/p>\n <\/p>\n The Appropriations Committee will conduct hearings up to Sept. 9.<\/strong><\/p>\n <\/p>\n <\/p>\n Speaker Romualdez earlier said the House would approve the President\u2019s budget proposal before Congress goes on recess later next month.<\/strong><\/p>\n <\/p>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" THE House of Representatives under the leadership of Speaker Ferdinand Martin Romualdez on Monday, Aug, 5, 2024 has started its deliberation on the proposed P6.352-trillion<\/p>\n","protected":false},"author":1,"featured_media":7637,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"featured_image_urls":{"full":["https:\/\/www.journaldailynewsonline.com.ph\/wp-content\/uploads\/2024\/08\/gdgl0uss.png",1080,593,false],"thumbnail":["https:\/\/www.journaldailynewsonline.com.ph\/wp-content\/uploads\/2024\/08\/gdgl0uss-150x150.png",150,150,true],"medium":["https:\/\/www.journaldailynewsonline.com.ph\/wp-content\/uploads\/2024\/08\/gdgl0uss-300x165.png",300,165,true],"medium_large":["https:\/\/www.journaldailynewsonline.com.ph\/wp-content\/uploads\/2024\/08\/gdgl0uss-768x422.png",640,352,true],"large":["https:\/\/www.journaldailynewsonline.com.ph\/wp-content\/uploads\/2024\/08\/gdgl0uss-1024x562.png",640,351,true],"1536x1536":["https:\/\/www.journaldailynewsonline.com.ph\/wp-content\/uploads\/2024\/08\/gdgl0uss.png",1080,593,false],"2048x2048":["https:\/\/www.journaldailynewsonline.com.ph\/wp-content\/uploads\/2024\/08\/gdgl0uss.png",1080,593,false],"kreeti-slider-full":["https:\/\/www.journaldailynewsonline.com.ph\/wp-content\/uploads\/2024\/08\/gdgl0uss.png",1080,593,false],"kreeti-featured":["https:\/\/www.journaldailynewsonline.com.ph\/wp-content\/uploads\/2024\/08\/gdgl0uss-1024x562.png",1024,562,true],"kreeti-medium":["https:\/\/www.journaldailynewsonline.com.ph\/wp-content\/uploads\/2024\/08\/gdgl0uss-720x530.png",720,530,true],"kreeti-medium-square":["https:\/\/www.journaldailynewsonline.com.ph\/wp-content\/uploads\/2024\/08\/gdgl0uss-350x350.png",350,350,true]},"author_info":{"info":["admin"]},"category_info":"National<\/a>","tag_info":"National","comment_count":"0","_links":{"self":[{"href":"https:\/\/www.journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/posts\/7636"}],"collection":[{"href":"https:\/\/www.journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/comments?post=7636"}],"version-history":[{"count":1,"href":"https:\/\/www.journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/posts\/7636\/revisions"}],"predecessor-version":[{"id":7638,"href":"https:\/\/www.journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/posts\/7636\/revisions\/7638"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/media\/7637"}],"wp:attachment":[{"href":"https:\/\/www.journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/media?parent=7636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/categories?post=7636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/tags?post=7636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}