Published on: February 07, 2023
By: DBM
Department of Budget and Management (DBM) Secretary Amenah F. Pangandaman is urging the public to participate in the government's budget preparation process to ensure a responsive allocation and contribute to the achievement of the country's development goals.
Secretary Pangandaman made the remark in an interview on the SMNI News Channel program "Business and Politics."
"We are preparing our 2024 budget now. We ask the national government agencies, our GOCCs... even the LGUs to take part in our consultations,”
Secretary Pangandaman said.
We want the people to participate so that we ensure our budget is something that is responsive in adherence to our 8-Point Socioeconomic Agenda and our PDP (Philippine Development Plan)... to reach our goal of single-digit poverty level, decrease our deficit, and achieve the high-middle income status of the country,” Sec. Pangandaman added.
Her statement comes as the DBM starts its series of budget consultations with National Government Agencies (NGA) and Government-Owned or Controlled Corporations (GOCCs), as part of the preparatory stage for the drafting of the National Expenditure Program for Fiscal Year (FY) 2024.
2023 Public Spending Direction
Meanwhile, in the same interview, the Budget Secretary was asked about the Marcos Jr. administration's direction in terms of public spending and how it can steer the country to a high growth trajectory.
Secretary Pangandaman emphasized that the 2023 budget, which was signed into law by President Ferdinand R. Marcos in December 2022, was crafted to attain the economic objectives set in the Medium-Term Fiscal Framework (MTFF).
"The P5.268 trillion budget that the President signed is consistent with that 8-Point Socioeconomic Agenda,"
she said.
The 2023 national budget supports the overall goals of the Administration to reinvigorate job creation and reduce poverty by steering the economy back to its high-growth path in the near term, and sustaining the high, inclusive, and resilient growth all through 2028.
The budget sets the path to attain the headline goals of the Marcos Jr. administration, such as bringing down the deficit to 3 percent of GDP by 2028; achieving less than 60 percent debt-to-GDP ratio by 2025; and reaching a 9 percent or single-digit poverty rate by 2028.
(DBM)
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