Martin vows budget passage

House Speaker Martin Romualdez on Thursday pledged to fast-track the passage of the P5.768-trillion proposed national budget for fiscal year 2024 after President Ferdinand Marcos Jr. deemed the measure "urgent."

Marcos on Wednesday wrote the House a letter addressed to Romualdez seeking the immediate enactment of House Bill 8980 to "enable the government to effectively perform its constitutional mandate."

Marcos' proposed national spending plan for next year under the National Expenditure Program is P500 billion, or 9.5 percent, higher than this year's P5.268 trillion budget, which the House approved in barely six weeks last year in accordance with the President's order.

Next year's P5.768 trillion, if passed, would be the highest budget ever approved by Congress.

"We appreciate President Marcos' leadership and his prioritization of the national budget. His decision to certify this crucial legislation as urgent reflects his unwavering commitment to the welfare and progress of our nation," Romualdez said.

The House chief added members of the House "have been diligently reviewing and fine-tuning the 2024 national budget to ensure that it addresses the pressing needs of our country and its people."

While there have been appeals to hasten the approval of the budgetary bill, Romualdez assured the public that it would undergo a transparent and thorough process that adheres to the highest standards of fiscal responsibility.

"We will continue to uphold the principles of accountability, inclusivity, and efficiency throughout the budget deliberations," the Speaker said.