DBM to submit P5.7 trillion national budget to Congress

MANILA, Philippines — As per practice, the Department of Budget and Management (DBM) will turn over to the House of Representatives the proposed P5.768-trillion national budget for 2024 shortly after President Marcos delivers his second State of the Nation Address (SONA).

Speaker Martin Romualdez, who heads the lower legislative chamber, said he was informed by the economic managers about their plan to “immediately” submit the bill, which is the most important piece of legislation that lawmakers discuss every year.

“Once this (budget submission) happens, then we will finish it before our October break. We average five weeks of solid work on budget deliberations, consideration, review and approval through third reading,” Romualdez told reporters in a chance interview over the weekend.

“So we are confident with the processes and protocols and procedures that we have that we can finish
 deliberating on our national 2024 budget. That is the most important piece of legislation,” the Leyte congressman said.

Romualdez said the budget “aims to sustain the country’s economic growth, create more income and job opportunities for the people and improve their quality of life through the timely delivery of basic social service like education, health care and infrastructure.”

The Speaker, meantime, assured the military and uniformed personnel (MUP) that the P120 billion needed for the pension fund of retired soldiers, policemen and other uniformed personnel will be resolved this year.

Romualdez, who represents Leyte’s first district, had directed the members of the House committee on appropriation and the ways and means committee to find ways to raise P120 billion this year for the MUP pension fund.

He said the government needs P120 billion annually or P3.6 trillion for the next 30 years to resolve the problems of the MUP like the backlog and growing number of retirees every year.

Romualdez said this fund must self-generate, like the President said, to avoid depleting the pension fund and let it earn and grow beyond those 30 years.

“We have to take care of our troops and our uniformed personnel for they keep our nation and people safe every day,” the House leader, a senior administration stalwart and first cousin of the Chief Executive, said.

Marcos had tasked Congress to search for funds to be allocated to pay the pension of the uniformed personnel.

House Deputy Minority Leader Bernadette Herrera expressed hope the President will make another pitch for the creation of the Department of Water Resources (DWR) during his second SONA today.

Herrera, who represents the Bagong Henerasyon party-list in Congress, said the establishment of a department dedicated to water resource management has never been more important and urgent amid a growing water crisis.

“We look forward to how the President plans to address the growing water crisis. We expect him to lay down a comprehensive blueprint, which should include the creation of DWR,” the opposition legislator said.

Herrera was also hoping Marcos will support her proposal to create the Water Regulatory Commission that would be in charge of regulating water services in the country.

Last March, Marcos issued an executive order creating the Water Resources Management Office to manage the country’s water resources and to respond to the current environmental challenges.