President Ferdinand Marcos Jr. holds a meeting with Executive Secretary Lucas Bersamin, Finance Secretary Ralph Recto, Budget Secretary Amenah Pangandaman, Department of Public Works and Highways Secretary Manuel Bonoan and National Economic and Development Authority Secretary Arsenio Balisacan in Malacañang on Wednesday, December 18, 2024 to review the 2025 national budget bill. (File photo courtesy of PCO)
MANILA, Philippines — President Ferdinand Marcos Jr. will sign the bill on the national budget for 2025 on December 30 or Monday next week, the Presidential Communications Office (PCO) said on Tuesday.
“Signing on 30 December 2024 after the Rizal Day events,” PCO chief Cesar Chavez told reporters. He is referring to the P6.3 trillion national budget for 2025.
Article continues after this advertisementSen. Imee Marcos on Monday revealed that the signing of the 2025 General Appropriations Act (GAA) will be on that day.
FEATURED STORIES NEWSINFO DOH: No need for booklets in seniors’ meds purchase NEWSINFO Ombudsman suspends 2 Batangas town execs over grave misconduct complaint NEWSINFO Senior citizen medicine discount won't need purchase booklet – DOHThe event was supposed to be done on December 19 or 20 but this schedule was deferred as the legislative piece was still being assessed by the president, according to Executive Secretary Lucas Bersamin.
The final version of the proposed national budget for next year featured massive cuts to several public services.
The rupee INR=IN was quoting at 83.9750 per US dollar compared with its close at 83.9675 in the previous session. The currency had declined to its all-time low of 83.9850 last month.
slot tournamentArticle continues after this advertisementThe cuts include P86 billion from the Department of Social Welfare and Development, P74.5 billion from the Philippine Health Insurance Corporation, and P12 billion from the Department of Education.
Article continues after this advertisementThese budget adjustments were flagged and contested by several groups, prompting Sen. Marcos to agree with the possibility of reenacting the 2024 national fund rather than pushing for the 2025 General Appropriations Bill (GAB).
Article continues after this advertisementSection 25 (7) and Article VI of the 1987 Constitution states that if by the end of any fiscal year, Congress failed to pass the GAB for the ensuing year, the General Appropriations Act (GAA) for the preceding year shall be deemed reenacted and shall remain in force and in effect until the new GAB is passed by Congress.
But Chavez previously said there were no discussions on budget reenactment during Marcos’ meeting with the heads of government agencies in the economic cluster.
Subscribe to our daily newsletter