The consolidated version of the proposed P5.268 trillion national budget for the fiscal year 2023 has been approved by the bicameral committee of Congress.

Senate Committee on Finance chair Sonny Angara and House Appropriations Committee chair Elizaldy Co made the announcement shortly after the bicameral committee convened on Monday morning at Manila Golf and Country Club in Makati City. 

The bicam-approved version of the proposed 2023 General Appropriations Bill restored the controversial P150-million confidential fund of the Department of Education, which was initially chopped to just P30 million by the Senate.

"It was restored to the original amount," Angara said in an ambush interview.

It also restored the P10-billion funding of the National Task Force to End Local Communist Armed Conflict, which was reduced to P5 billion in the House version of the proposed budget.

The proposed spending plan for next year also included a P500 million confidential and intelligence fund under the Office of Vice President.

The proposed budget will now be sent to the plenary sessions of both chambers, where it is expected to be ratified by the Senate and House within the day.