The Department of Budget and Management (DBM) yesterday asked the different government agencies to revisit their respective proposed budget for 2023
The DBM also asked agencies to take into consideration the current limited resources of government, the need for fiscal space for new programs and projects while ensuring efficient spending of public funds.
The DBM, on June 8, issued National Budget Memorandum (NBM) No. 144 which provides the budget priorities framework to be used for the preparation of the proposed 2023 national budget.
The memorandum also directs agencies to ensure the existing programs or categorized Tier 1 and proposed new programs or Tier 2 to be included in the proposed budget are: responsive to the expenditure directions or key sector strategies for 2023; implementation-ready; reflective of the agency’s absorptive capacity; and aligned with the plans and priorities of the incoming administration.
The Tier 2 projects must also put primacy on health-related expenditures, disaster-risk management, social security, digital economy, local government support, and growth-inducing expenditures which include crucial and shovel-ready infrastructure projects, among others, as “these priorities shall help accelerate and sustain economic recovery from the global pandemic by strengthening the healthcare system and by building a stronger economy.”
“With the incoming administration, the DBM continues to be committed to the prudent and judicial allocation of public funds to support the delivery of services to provide a better quality of life for Filipinos,” DBM said in a press release.
Based on the medium-term macroeconomic assumptions and fiscal aggregates approved by the Development Budget Coordination Committee last May 24, the proposed national budget for 2023 amounts to P5.268 trillion which is 22.1 percent of the gross domestic product and 4.9 percent higher than the 2022 budget of P5.024 trillion.
