MANILA: President Ferdinand Marcos, Jr. is seeking to increase the funding for his administration’s infrastructure and agriculture programs next year as seen on the Department of Budget and Management’s (DBM) 2024 spending plan submitted to Congress on Wednesday.
Marcos said that under the 2024 National Expenditure Program (NEP), the “Build Better More” program would focus on social infrastructure.
“This Program, which seeks to continue and expand the Golden Age of Infrastructure of the country, will receive a total of P1.418 trillion. This is equivalent to 5.3 percent of GDP,” “ Marcos said in his 2024 budget message.
“This includes the Public Sector Infrastructure budget of the DOTr and the DPWH, amounting to P176.4 billion and Php 801.2 billion, respectively,” he added.SPONSORED CONTENT Daily Express members: Enjoy 1 for 1 signature cocktails and more at Hyatt Centric Kota Kinabalu Kota Kinabalu: DAILY EXPRESS is partnering with Hyatt Centric Kota Kinabalu to offer an exclusive deal for our members. Read more Marcos explained that the National Economic Development Authority (NEDA) Board approved 194 high-impact infrastructure flagship projects (IFPs) ranging from public transport, power, health, information technology, water resources, and agriculture, 123 of which were initiated during this administration.
To ensure an inclusive economic transformation, the President said that among the social infrastructure programs and projects, “a total of P40.6 billion has been allotted for the construction or improvement of public school buildings, including efforts to make these disaster-resilient, while P15.3 billion has been allocated for the construction, repair, and/ or improvement of public hospitals and health centres nationwide.”
To further the peace and economic development in the Bangsamoro region, P5.3 billion has been appropriated for the PAMANA Program to be implemented by the Office of the Presidential Adviser on Peace, Reconciliation and Unity (OPAPRU).
Citing the urgent need to improve public transport and reduce road congestion, the President said they have doubled the budget for the DOTr from P106.0 billion in the FY 2023 GAA to P214.3 billion for 2024.
Marcos, who also sits as agriculture secretary, sought to ramp up the funding for the sector in next year’s expenditure program.
“To continue the upward trajectory of agricultural output and meet our PDP goal of increasing the Philippines’ food security index, we will increase funding for the national programs of the Department of Agriculture (DA) on rice, corn, livestock, and high value crops, among others,” the chief executive said in his budget message.
“The National Rice Program will receive an allocation of P30.9 billion to enhance rice production... We are investing P6.9 billion for the National Fisheries Program. We have also allotted P211 million specifically for the Boosting Aquaculture Production Program to meet the 10 percent target increase in local fisheries production that will augment the deficit in our fish supply and demand outlook,” Marcos added.
For soil improvement, a total of P916 million will be allocated to improve the management and ensure the sustainable use of soil resources, address land degradation, and further enhance crop productivity.
The President also said the government is investing P1.5 billion to fund facility development, capacity building, and research projects that will supplement the research initiatives of the Department of Agriculture’s banner programs.
The President will also fund agricultural infrastructure. “To allow our food growers to transport their goods seamlessly and at a lesser cost, we will provide the DAs’ Farm-to-Market Road Program with P17.3 billion to construct 1,144.58 kilometres of roads in key production areas all over the country,” he said.
The President also seeks to ensure sufficient rice supply by allocating P9 billion to procure 473,684 metric tons of palay for the buffer stocking program of the National Food Authority.
The first full-year budget prepared by the Marcos administration is valued at P5.768 trillion, 9.5 percent higher than the 2023 national budget.
The amount is equivalent tp 21.7 percent of the gross domestic product, Marcos noted in his budget message.
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