The House of Representatives has commenced plenary deliberation on House Bill 4488 or the 2023 General Appropriations Bill (GAB).
In his sponsorship speech, Committee on Appropriations Chairperson AKO BICOL Party-list Representative Zaldy Co said that it is the responsibility of Congress to pass a timely, responsive, and inclusive budget for the Filipino people.
Co noted that the eight-point socioeconomic agenda of the Marcos administration is incorporated in the GAB.
According to the legislator, the main pillars of the budget are to:
1) protect the purchasing power of Filipinos,
2) reduce vulnerability and mitigate scarring from the COVID-19 pandemic,
3) improve bureaucratic efficiency, and
4) create more, quality, and green jobs.
“The proposal would serve as an action plan for the immediate recovery of the economy from the pandemic.”
The lawmaker also stressed that the proposal would serve as an action plan for the immediate recovery of the economy from the pandemic, as well as to address the rising inflation.
“We shall be able to deliver the necessary tools and resources with this budget to improve the lives of our constituents and uplift their hope for a better quality of life and future prosperity, and advancement of the Filipino people,” he stressed.
Sponsoring the “General Principles and Provisions” of the 2023 GAB”, Senior Vice Chairperson Marikina City 2nd District Representative Stella Luz Quimbo noted that the administration also crafted the Medium-Term Fiscal Framework (MTFF), which seeks to grow the economy, stabilize prices, increase revenues, as well as manage and pay the country’s debt.
“The 2023 budget would be the first step in fulfilling the visions of the MTFF (Medium-Term Fiscal Framework) to create more jobs and reduce poverty.”
Quimbo also highlighted that the 2023 budget would be the first step in fulfilling the visions of the MTFF to create more jobs and reduce poverty.
Meanwhile, the lady legislator urged that Congress must be guided by convergent goals to invest in farmers, enhance human capital, support micro, small, and medium enterprises (MSMEs), and create effective networks of physical and digital infrastructure.
“By creating a vibrant atmosphere for business, small businesses develop and investments come in. With more investments, jobs are created. And with more and better jobs come prospects for growth. That is the blueprint of our economic recovery,” the lawmaker said.
