NextGen Day

Based on the National Expenditure Program (NEP) for 2023, the Department of Trade and Industry (DTI) is targeting a PHP19.998 billion budget for the first year of the Marcos administration.

Considering that the national budget for the upcoming year, totaling PHP5.268 trillion, was presented to Congress on Monday.

DTI’s proposed budget is 9% less than the PHP21.94 billion that was allotted to the organization under the 2022 General Appropriations Act (GAA).

The DTI and Office of the Secretary (OSEC) agencies all reduced their budgets for the upcoming fiscal year with the exception of the Design Center of the Philippines (DCP).

The budget request for Secretary Alfredo Pascual’s office is PHP1.47 billion less, or PHP5.22 billion. The OSEC budget for this year is PHP6.68 billion.

Technical Education and Skills Development Authority (TESDA) would receive the largest portion of the DTI budget, totaling PHP13.47 billion. This is less than the PHP13.81 billion budget set aside for the 2022 GAA, though.

The DTI’s Board of Investments’ budget also decreased, going from PHP399.72 million this year to PHP344.47 million for 2023.

The Philippine Construction Industry Association will receive PHP124.2 million, the Cooperative Development Authority will receive PHP653.1 million, and the Philippine Trade Training Center will receive PHP67.2 million.

However, compared to the budget allocated for this year, the DCP budget grew to PHP123 million for the following year from PHP116.2 million.

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