NextGen Day

According to Department of Budget and Management (DBM) Secretary Amenah Pangandaman on Monday, the proposed national budget 2024 will continue to place a premium on important industries, including infrastructure, agriculture, health, and education.

Pangandaman stated that the administration’s Medium-Term Fiscal Framework (MTFF), which Congress approved, includes these key sectors.

“MTFF, it’s a fiscal consolidation program [that] [contains] the priority programs and areas which we should support,” she stated.

“We will continue the national government’s infrastructure initiative, Build, Build, Build to Build, Better, More, which began at 5-6 percent of GDP (gross domestic product), and is currently at 5.8 percent. We must thus stick to the 2024 budget, which we are still developing.

Pangandaman also mentioned the necessity of keeping the funding for the agricultural sector as a top priority.

We all know that this year, we boosted it by roughly 40% since, compared to past years, it seemed like we weren’t investing enough. We give very little help to the agricultural industry. However, when the epidemic struck, everything shut down—our value chains ceased, and we must have adequate food and produce in our nation, she said.

In addition to these, Pangandaman stated that the government will help the health and education sectors, including improving the workforce’s abilities.

The 2024 Budget Priorities Framework reflects the expenditure priorities for the following year, which include strategic directions in the transition to full devolution, research, development, and innovation, as well as infrastructure development, food security, digital transformation, enterprise development, human capital development, climate action, and disaster resilience.

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