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The budget for 2023 will aid the Marcos administration in implementing its prosperity program.

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The PHP5.268 trillion 2023 national budget, which President Ferdinand R. Marcos Jr. signed Friday afternoon, according to Speaker Martin G. Romualdez, will assist in achieving the administration’s commitments, particularly in the implementation of its Agenda for Prosperity to sustain growth, create economic activity and jobs, and raise Filipinos’ incomes.

The President, his economic team, and the entire government can use it to carry out the objectives of the prosperity roadmap, according to Romualdez.

He noted that the President’s first full-year budget proposal was discussed and adopted by the House of Representatives and the Senate “in record time.”

He stated, “As far as I can recall, the 2023 budget is one of the few spending laws that was signed into law in mid-December, a long time before it began to be implemented on New Year’s Day.

The 8-point Socioeconomic Agenda of the Marcos administration, which was required to restructure the national economy towards inclusivity and sustainability for a more prosperous Philippines, guided the development of the PHP 5.268 trillion national budget for Fiscal Year (FY) 2023.

Romualdez expressed his gratitude to Congressmen and executive branch employees for their assistance in hastening the funding bill’s passage.

He claimed that there is now enough time for the administration, specifically the Department of Budget and Management, to get ready for the release of monies authorized by the 2023 budget law.

“The money required to maintain the nation’s high growth trajectory and maintain our economic expansion momentum should be released on January 1st. “Agencies should be prepared to maintain their initiatives, activities, and programs while upholding accountability and openness,” Romualdez added.

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