DBM proposes P5.268 trillion budget for 2023
The Department of Budget and Management (DBM) has proposed a P5.268 trillion outlay for the incoming administration of incoming President Ferdinand ''Bongbong'' Marcos from this year's P5.024 trillion.
During Tuesday's Development Budget Coordination Committee (DBCC) virtual press briefing, Budget and Management OIC and Undersecretary Tina Rose Marie Canda said the P5.268 trillion proposed budget is 22.1 percent of gross domestic product (GDP).
"For prudent fiscal management, we have to stick to a P5.268-trillion budget for 2023. Now, it may be tight but we have to live within that level," she said.
Marcos, in a press conference on Monday, was looking to craft a stimulus package for 2023 as the 2022 budget has been disbursed. ''Not all of it has been spent, so there is still breathing room although it is small,'' said Marcos.
'' That is why we will have to look at the new budget for 2023 which is presently being written. We have to look at that to fund sufficient funds for the things we want...really reboot the economy,'' added Marcos.
Canda said 85 percent of this year's budget was released by the DBM.
"DBM has already released P 4.3 trillion budget. It is equivalent to 85 percent of the total appropriation program... of this amount however we must take note that actually 95 percent of the budget for the departments and agencies have already been released,"
"We do not have much leeway so far as the budget is concerned. It has actually been comprehensively released by the departments and agencies of the national government," she added. Robina Asido/DMS
