Marcos to sign 2024 nat’l budget this week

President Ferdinand Marcos Jr. will sign the P5.76-trillion 2024 national budget into law this week, House Speaker Martin Romualdez said on Monday.

In a media interview with the Philippine media delegation in Tokyo, Romualdez said the President will sign the 2024 General Appropriations Act (GAA) after he returns from Japan.

"It's ready for (signing), I think Wednesday. Wednesday na ata yung signing po (I think the signing will be on Wednesday)," said Romualdez.

This is after Marcos told the media last week at an event in Muntinlupa City that the 2024 GAB will be signed into law before Christmas.

Romualdez said Marcos was initially going to sign the national budget into law before going to Japan.

However, the House Speaker made it clear that the President couldn't sign the national outlay document yet because there were still some printing requirements that needed to be met.

2024 budget includes funds for WPS defense

Romualdez added the 2024 national budget included funds for the "robust defense of the West Philippine Sea (WPS)."

Romualdez also said that he doesn't expect the President will reject or veto any part of the bill, even if it means getting rid of the P500 million that was set aside for the Office of Vice President Sara Duterte from the secret fund allocation for civilian agencies.

The House moved earlier in the budget process to take civilian organizations' confidential funds away so the budget could be used for better things, such as making the WPS a safer place for the country's territory.

"We're not anticipating any (vetoed provisions). We've been working closely with OP (Office of the President) and all the departments," he added.

"Both houses (of Congress) agreed upon it. The heads of the departments have agreed to it. They have voluntarily withdrawn it (request for confidential funds)," Romualdez said.

Also, Romualdez said that the PCG has been given more money in the planned 2024 General Appropriations Bill (GAB), which is the biggest bill ever in the history of the country.

The planned budget for 2024 is equal to 21.7 percent of the gross domestic product and is 9.5% more than the budget for 2023, which was P5.268 trillion.