PRESIDENT Ferdinand “Bongbong” Marcos Jr. is set to sign the proposed ₱6.352-trillion national budget for 2024 on Tuesday, December 30, following the Rizal Day program in Manila, according to Presidential Communications Office Acting Secretary Cesar Chavez.
The signing, initially scheduled for December 20, was delayed to allow for a more thorough review, as explained by Executive Secretary Lucas Bersamin.
Bersamin noted that the President consulted with heads of major departments to ensure the budget’s alignment with national priorities.
Despite the delay, Marcos had expressed optimism about finalizing the budget before the year’s end.
Under the Constitution, if Congress fails to pass the General Appropriations Bill (GAB) by the end of the fiscal year, the previous year’s budget would be reenacted.
This has happened in various years, including 2001, 2004, and 2006, according to the Department of Budget and Management (DBM).
The Senate and House of Representatives had earlier ratified the bicameral conference committee report on the GAB.
Key allocations include retaining the ₱733-million budget for the Office of the Vice President, reducing the Department of Education’s budget by ₱10 billion, and allocating ₱26 billion for the Ayuda para sa Kapos at Kita Program (AKAP).
Under the Constitution, the President has the power to veto specific provisions of the budget through a “line-item veto.”
Senate Minority Leader Aquilino “Koko” Pimentel III highlighted that items vetoed by the President are considered rejected outright, ensuring that only unopposed provisions take effect.