Marcos likely to sign 2024 budget before Japan trip — Diokno

MANILA, Philippines — Department of Finance Secretary Benjamin Diokno said that President Ferdinand Marcos Jr. might approve the proposed P5.768-trillion budget for 2024 before his trip to Japan next month.

This was after the finance chief was asked if Marcos would sign the proposed General Appropriations Bill (GAB) before the scheduled trip to attend the ASEAN-Japan Friendship and Cooperation Commemorative Summit from December 16 to 18.

"I was talking to the liaison officer. Na-approve na kasi ang budget. So, they will be going to the conference committee by December 1st and so there’s enough time bago umalis si president,” Diokno said. 

(I was talking to the liaison officer. The budget has been approved. So, they will be going to the conference committee by December 1st, and there's enough time before the president leaves.)

The Department of Budget and Management (DBM) said that the proposed budget for 2024 amounts to P5.768 trillion, marking a 9.5% increase from the 2023 appropriations.

On Tuesday, the Senate approved the P5.768 trillion proposed 2024 national budget on the third and final reading with 21 yes votes, 0 no votes and 1 abstain vote.

Before Marcos’ signature, the Senate and House committees will need to resolve the discrepancies between the two versions of the budget bill.