SONA 2023 / The opening of the Second Regular Session of the 19th Congress at the House of Representatives, Quezon City on Monday, July 24, 2023. (INQUIRER photo / NINO JESUS ORBETA)
MANILA, Philippines 鈥� Two senior officials of House committee on appropriations are asking their colleagues to help them develop the best version of the P5.7 trillion proposed national budget for next year.
In their sponsorship speeches for the General Appropriations Bill (GAB) on Tuesday, committee chairperson Ako Bicol Representative Elizaldy Co and senior vice chairperson and Marikina 2nd District Representative Stella Quimbo highlighted the significance of the budget bill.
鈥淭he [GAB] is the cornerstone of our nation鈥檚 fiscal management. It determines how public funds will be allocated to address the needs and aspirations of our citizens,鈥� Co said.
鈥淭hus, the timely passage of this measure is not just an obligation, but our solemn responsibility,鈥� he stressed.
鈥淚n this spirit, I urge every member of this august body to take proactive steps and join members of the Committee on Appropriations in coming up with a collective decision and recommendation to approve House Bill Number 8980, the Fiscal Year 2024 General Appropriations Bill,鈥� he added.
Meanwhile, Quimbo urged lawmakers always to put the country鈥檚 welfare first.
鈥淎s members of Congress, endowed with the power of the purse, our undertaking for the next two weeks is of utmost importance. The choices we make today will resonate through generations, shaping the Philippines of tomorrow,鈥� Quimbo said.
鈥淟et us not merely approve a budget. Let us craft a legacy,鈥� she emphasized.
House started the plenary debates on the proposed budget early Tuesday morning.
The measure is expected to be approved on third reading by September 27.
Despite the optimism from the two appropriations panel leaders, both also said the bill is being presented amid turbulent times.
Quimbo noted the country鈥檚 gross domestic product (GDP) growth rate was slower in the second quarter of 2023.
She also said the government will be on deficit spending next year, as revenues are insufficient to bankroll the budget.
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