Ni帽o Jesus Orbeta/Inquirer
MANILA, Philippines鈥擳he House of Representatives will commence formal hearings this Thursday on the P5.678-trillion national budget proposed by President Ferdinand 鈥淏ongbong鈥� Marcos Jr. for 2024.
High on the list of those to be questioned are members of the President鈥檚 economic team, specifically from the Development Budget Coordination Committee (DBCC).
House Speaker Ferdinand Martin G. Romualdez expressed the chamber鈥檚 concerns, noting, 鈥淭he poor say they cannot eat growth.鈥�
Romualdez emphasized the collective sentiment that the current economic boom appears to be benefiting primarily the wealthy, major corporations, and players in the stock and financial markets.
鈥淚f the 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, infrastructure, education, health, and even direct financial assistance to the poor and other vulnerable sectors,鈥� he said.
Romualdez said the House is keen to advocate for augmented allocations dedicated to these services and programs aimed at aiding the economically disadvantaged.
Another area of focus will be the newly enacted Agrarian Emancipation Law. Romualdez reconfirmed the House鈥檚 commitment to scrutinizing its enactment and the earmarked appropriations.
鈥淭he law is the hope of more than 600,000 farmers to get rid of over P5 billion in indebtedness that has been hobbling them for years,鈥� he said.
With the law forgiving such debt, Romualdez stressed the need for continued support for these farmers, encompassing new credit avenues, essential farming inputs, state-of-the-art equipment, modern technology, and other necessary assistance.
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