Oliver Bugarin 5 0 0 8 min to read

‘Springboard’ for full-speed economic recovery in the 2023 budget: DBM

According to the Department of Budget and Management (DBM), the planned PHP5.268 trillion national budget for 2023 will act as a “springboard for the economy’s full-speed recovery.”

The spending plan for the 2023 budget, according to Budget Secretary Amenah Pangandaman, was developed in accordance with and to support the eight-point socioeconomic strategy of the Marcos administration.

As the House of Representatives started debating the proposed 2023 budget, Pangandaman stated, “the administration’s first full-year budget shall serve as a springboard for the economy’s full-speed recovery and serious structural transformation.”

“Agenda for Prosperity: Economic Transformation Towards Inclusivity and Sustainability” serves as the central theme of the proposed budget.

The near- and medium-term immediate and pressing needs of Filipinos would be addressed by the 2023 budget plan, according to Pangandaman.

the purchasing power of Filipinos

According to the DBM, the first pillar of the proposed budget seeks to increase the purchasing power of Filipinos by addressing the first three points of the socioeconomic agenda, which are improved transportation, inexpensive and clean energy, and food security.

The DBM stated that in 2023, a higher portion would go to the Department of Agriculture’s (DA) flagship initiatives, such as the PHP30.55 billion National Rice Program, to guarantee the nation’s food security.

The “Build Better More Program” will also get about PHP1.20 trillion to support the administration’s ongoing push for infrastructure development, the DBM noted, stressing that this amount is comparable to 5% of the GDP for infrastructures related to roads, rails, transport, and flood control.

The Department of Public Works and Highways (DPWH) and the Department of Transportation would get the majority of the infrastructure budget, according to the DBM (DOTr).

The “efficient” transport and logistics system for products and services will be funded with around PHP272.87 billion, and the DOTr will receive about PHP167.12 billion to set up a “efficient and dependable” mass public transit system.

The DBM also mentioned that PHP476 million would be given to the Department of Energy to carry out the government’s plan for “cheap and clean” energy.

The DOE’s Renewable Energy Development Program will receive about PHP145.21 million of the PHP476 million, followed by the Energy Efficiency and Conservation Program with PHP252.35 million and the Alternative Fuels and Technologies Program with PHP78.86 million.

The National Electrification Administration’s (NEA) PHP1.63 billion Sitio Electrification Project will be continued in conjunction with the budget for the DOE’s initiatives, the DBM continued.

“Finally, in light of the anticipated continuation of the gasoline price increase, the DA’s Fuel Assistance for Farmers and Fisherfolk budget would quadruple to PHP1 billion. The remaining PHP489.55 million will go to fishermen, leaving PHP510.45 million for corn producers, according to the agency.

Additionally, PHP2.5 billion will be set aside for the DOTr’s Fuel Subsidy Program, which would aid the transportation industry’s affected businesses.

enhancing social and medical services

By bolstering social and healthcare services and assuring the secure restart of in-person education, according to Pangandaman, the second budget pillar aims to protect Filipinos from the lingering impacts of the coronavirus disease 2019 (Covid-19) pandemic and subsequent unexpected tragedies.

According to Pangandaman, “the government would give roughly PHP206.50 billion in ayuda (help), which consists of cash transfers and other subsidy programs by various organizations.

According to the DBM, the Pantawid Pamilyang Pilipino Program (4Ps) of the Department of Social Welfare and Development (DSWD) will receive a larger budget of PHP115.61 billion for awards in health and education as well as rice subsidies for 4.4 million households.

This amount, which is 7.3% more than this year’s PHP107.67 billion, “would be used to support the enhancement of data validation for the Listahanan 3 and so provide a stronger beneficiary targeting system,” the statement read.

By allocating PHP852.8 billion, the DBM made guaranteed that the education sector would continue to get the largest allocation.

The Department of Education (DepEd), State Universities and Colleges (SUCs), Commission on Higher Education (CHED), and Technical Education and Skills Development Authority are all included in the budget, according to the statement (TESDA).

The Department of Health (DOH) will receive PHP23 billion for its Health Facilities Enhancement Program, which will help the healthcare sector (HFEP).

The DOH’s HFEP, among other programs, strives to increase access to healthcare services through a building, renovating, and modernizing healthcare facilities and purchasing medical equipment.

electronic transformation

The Marcos administration would also be allowed to pursue investments in information and communications technology (ICT) in order to convert and digitalize government operations, documentation, and databases through e-governance, according to Pangandaman.

“The budget will assist the restructuring and digitalization of the government to streamline the bureaucracy, in support of the Administration’s aim for a lean, efficient, and responsive government workforce,” she said.

The DBM reported that the government’s ICT and digitalization projects and programs will receive about PHP12.47 billion of the planned budget.

According to the DBM, PHP4.72 billion will be given to the Department of Information and Communications Technology (DICT) for its advisory, management, and development program for ICT systems and infrastructure.

Finally, it noted, “a PHP2.06 billion allocation will be made to the Philippine Identification System (PhilSys) to allow accurate and prompt provision of social services.

Supporting LGUs Fund

Local government units (LGUs) would also get financing under the projected 2023 budget for the full devolution, which would enable them to directly implement programs and interventions within their respective jurisdictions.

The Local Government Support Fund (LGSF) would receive around PHP28.88 billion, according to the DBM, noting that the proposed budget is PHP10.91 billion higher than the PHP17.97 billion appropriated in 2022.

According to the DBM, the LGSF comes on top of the PHP820.27 billion National Tax Allotment that LGUs will get in 2023 as a result of the Mandanas-Garcia Supreme Court Decision.

“The government’s expenditure plan for the upcoming year establishes the groundwork for the concretization of the socioeconomic agenda’s eight points. Through economic change toward inclusivity and sustainability, along with our congressional partners, we aspire to bring in prosperity, according to Pangandaman.

Before Congress’s first recess, which will stretch from October 1 to November 6, the House of Representatives hopes to complete committee and plenary deliberations on the budget proposal.

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