Incoming Budget Secretary Vows to Implement Pro-People Economic Recovery

Strategic Insights -

Incoming Budget Secretary Amenah Pangandaman aims to draft and implement a budget that promotes broad-based and inclusive economic recovery and growth, prioritizing President-elect Ferdinand Marcos Jr.'s initiatives and projects. Marcos' focus areas, as noted by Pangandaman, include agricultural and food security, climate change adaptation, economic recovery, improved healthcare and education, and infrastructure development, among others. The proposed budget under the National Expenditure Program (NEP) is accompanied by the President's Budget Message, which outlines the budget's policy focus and priorities. The incoming Budget chief also vows to push for reforms, such as the use of latest technologies for monitoring project implementation and improving budget transparency.

Key Takeaways:

  • The incoming Budget Secretary, Amenah Pangandaman, has been instructed by President-elect Ferdinand Marcos Jr. to ensure that his priority initiatives and projects are included in the 2023 National Expenditure Program (NEP).
  • The proposed budget under the NEP has a focus on economic reconstruction, with key areas including agricultural and food security, climate change adaptation, and economic recovery.
  • The incoming Budget chief intends to push for reforms, such as the use of latest technologies for monitoring project implementation and improving budget transparency.
  • Pangandaman also aims to continue investing in infrastructure and human capital development, focusing on strategic expenditure in high-impact capital initiatives.
  • The proposed budget will be accompanied by the President's Budget Message, outlining the budget's policy focus and priorities.
  • The incoming Budget chief has vowed to implement a budget that is pro-people and has an impact on the people, emphasizing the importance of transparency and fiscal responsibility.

Statistics:

  • The projected national budget for 2023 is P5.268 trillion, or around 22.1 percent of the country's gross domestic product.
  • The new administration's economic team will meet shortly after the inauguration to discuss and finalize the budget.
  • The House of Representatives and the Senate will deliberate on the president's budget within 30 days from the opening of the regular session.
  • The bicameral committee will reconcile the various versions of the budget bill before sending it to the president for approval.

Sources:

  • "Incoming Budget chief vows to push for reforms," The Manila Times, Jun. 3, 2022.
  • "Budget chief promises fiscal responsibility," The Manila Times, May 21, 2022.
  • "Congressman files bill to increase budget for agriculture, rural development," The Manila Times, Apr. 15, 2022.
  • "Marcos admin eyes P5.268-trillion national budget for 2023," Business Mirror, May 12, 2022.