Negosyante News

October 6, 2024 7:27 am

DBM Explains Budget Cuts for Education and Increase for Agri in 2023 Budget

Philippines reopen 28 schools in Metro Manila
IMG SOURCE: Lisa Marie David / Reuters

 

The Department of Budget and Management (DBM) revealed that the Department of Education (DepEd) and the Department of Agriculture (DA) will receive the most budget for the proposed 2023 national budget. This reflects the current administration’s aim to tackle socioeconomic losses from the prolonged pandemic and the increasing prices of basic goods.

 

DepEd is posed to receive the biggest share of the 2023 proposed national budget of ₱5.268 trillion. DepEd is set for around ₱130 billion less than its initial funding request of ₱848 billion.

 

DBM Secretary Amenah Pangadaman has mentioned that their department took into account DepEd’s capability of using funds when it had allotted ₱710.6 billion for 2023. The amount for 2023 is higher than the 2022 billion budget of ₱633.3 billion.

 

“We already have a plan kung ano ang (which) areas that lack classrooms, school facilities. However, it also takes time to procure one. It has to undergo bidding process, it has to undergo several permits, it has to undergo detailed building design,” she told CNN Philippines’ The Source on Thursday. “In fact, what we saw now from the absorptive capacity or utilization especially on basic education facilities, on the construction and restoration of classrooms, only 44% has been used and utilized for this year.”

 

Budgets for the UP-Philippine General Hospital and the University of the Philippines System likewise experienced a cut of ₱3.3 billion for next year as compared to their current allocations.

 

DBM has stated that these cuts in the budget came from Congress which introduced non-recurring programs, changes, or one-time expenses for this year.

 

Source: CNN Philippines

Comments are closed for this article!

Subscribe to Our Newsletter and get a free pdf:

Sign Up for negosyante news

and receive a copy of The Crypto Cheat Sheet (PDF)
and NFT Cheat Sheet for free!

* indicates required