Budget Secretary Amenah Pangandaman presented before global investors the country’s priority expenditures in support of the Philippine Development Plan (PDP) 2023 to 2028.
The event provided European investors attending the Philippine Economic Briefing in Frankfurt, Germany an overview of opportunities for partnership with the Philippine government.
Pangandaman discussed the modernization of agriculture and agri-business as part of the PDP’s goal to transform production sectors.
With the agriculture budget increased by 40 percent compared to 2022, more farm-to-market roads, and latest agricultural machinery and facilities are provided by the state to help farmers improve their productivity and ensure food security in the country.
Moreover, she emphasized the infrastructure sector—particularly public, digital, and social infrastructure—will be upgraded to establish an enabling environment for growth.
Hence, the Department of Transportation was allotted P106 billion for its massive transport projects that will make mobility convenient and accessible for every Filipino.
For digital infrastructure, public investments are directed to create a technology-enabled workforce and improve governance.
Finally, to realize the PDP’s objective of developing and protecting the capabilities of individuals and families, Pangandaman assured that the 2023 national budget has sufficient funding for the social services sector which includes education with a budget of P896.08 billion—still the number one priority as mandated by the Constitution.
Some P314.7 billion was allocated for the Department of Health, while the Department of Social Welfare and Development will receive P199.5 billion.
To ensure the longevity and continuity of all these programs, Pangandaman said “we have set in place legislative and budget reforms to safeguard the integrity of our budget process,” foremost of which is the Progressive Budgeting for Better and Modernized Governance or the PBBM Governance Bill that will institutionalize key Public Financial Management (PFM) reforms, such as the cash budgeting system.
