The government will borrow more than 40%, or P2.46 trillion to supplement the P5.768 trillion proposed national budget for 2024, as confirmed by Congresswoman Stella Quimbo, the Vice Chair of the House Committee on Appropriations, during the plenary deliberations for the 2024 budget.

In a report by RH 12 Milky Rigonan, Quimbo said that 43.32% of the 2023 national budget will come from borrowing, while 57% will be funded from local revenues.

Moreover, the House aims to pass the 2024 General Appropriations Bill on September 27 before Congress breaks from September 30 to November 5.

Quimbo accepted the recommendation of Congressman Edcel Lagman that there should be a special provision on the use and reporting of confidential and intelligence funds under the General Appropriations Bill.

The purpose is to make the use of national funds more transparent and ensure that they are used in the dedicated program.

Meanwhile, the leadership of the House ensures that there will be no reenacted budget in 2024, so they will push for the passage of the GAB so that President Ferdinand Marcos Jr. can sign the national budget before Christmas.