THE Department of Budget and Management (DBM) submitted to President Ferdinand Marcos Jr. on Tuesday, July 25, 2023, a copy of the Fiscal Year 2024 National Expenditure Program...
THE Department of Budget and Management submitted to President Ferdinand Marcos Jr. on Tuesday, July 25, 2023, a copy of the Fiscal Year 2024 National Expenditure Program amounting to P5.768 trillion.
Of the amount, P4.020 trillion will be allotted to government operating requirements and funding for agencies and P1.748 for automatic appropriations, including the National Tax Allotment for local government units, Bangsamoro Autonomous Region in Muslim Mindanao Annual Block Grant, and debt service, among others.The National Government agencies will receive the bulk of the budget at 67 percent, followed by the local government units at 17.5 percent, creditors for interest payments 11.
Almost 70 percent of the FY 2024 budget is allocated for economic and social service, 29.6 percent and 37.9 percent, respectively, while the rest are allocated for general public services at 15.5 percent, debt burden 12.1 percent, and defense 4.9 percent.
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