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Friday, October 25, 2024

House hopeful P6.352-trillion 2025 budget will be signed into law by December

Speaker Martin Romualdez and the members of the House of Representatives expect that the P6.352-trillion proposed 2025 national budget will be ready for President Marcos’s signature by December.

This after the House transmitted Thursday to the Senate the money measure, which incorporated key amendments aimed at bolstering social safety nets and ensuring food security.

Ako Bicol Party-list Representative Zaldy Co, chair of the House Committee on Appropriations, said the amendments include an additional P292.23 billion dedicated to supporting vulnerable sectors, including low-income families, farmers, and soldiers.

“This budget is a lifeline for those who need it most,” said Co. “By increasing funding for social programs, we’re addressing immediate needs while laying the groundwork for long-term resilience.”

Significant enhancements in the budget include an extra P39.8 billion allocated to the Assistance to Individuals in Crisis Situations (AICS) and the Ayuda sa Kapos ang Kita Program (AKAP), which will offer financial aid to those earning P21,000 or less monthly.

The AKAP allocation for 2025 is three times higher than the previous year’s P13 billion, in response to widespread public demand.

Education remains a priority with an additional P30.01 billion earmarked for scholarships under the Commission on Higher Education’s Tertiary Education Subsidy and Tulong Dunong programs.

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Meanwhile, the Department of Education will receive P7 billion more for the construction and repair of school facilities.

To bolster national security, P8.44 billion has been added to the Armed Forces of the Philippines’ budget, raising soldiers’ daily subsistence allowance by 67 percent to P250. Funding is also allocated for critical infrastructure projects on Pag-asa Island to defend the West Philippine Sea.

In agriculture, P30 billion is directed toward irrigation and cold storage projects to enhance food security, while the National Irrigation Administration’s budget sees a P44 billion increase.

The amended budget now awaits Senate deliberations with lawmakers expressing optimism about its swift passage.

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