President Ferdinand ‘Bongbong’ Marcos Jr. on Friday, Dec. 16, signed into law the proposed General Appropriation bill (GAB) containing the Php 5.268 trillion national budget for 2023.

The signing comes a week after the Bicameral Conference Committee composed of the Senate and the House of Representatives approved the consolidated versions of the bill.

In his speech after the signing of the measure, Marcos regarded the budget as a “fine Christmas gift.”

“I will have, I suppose, a Merry Christmas because this is as fine a Christmas gift as can be received by any president from his legislature,” he said.

Echoing the words of House Speaker Martin Romualdez, Marcos said this is the "fastest" passage of the national budget so far.

He stressed the importance of the budget's enactment for it "defines and gives muscle to the road map" of what the government intends to do in 2023.

"To see that the rapidity of the passage is significant because it means that this budget, the road map that we have proposed from the executive, is fully supported by our legislature,” the President added.

Despite the swift passage of the national budget, several opposition senators have earlier scrutinized some of the government agencies' confidential and intelligence funds (CIF).

In a statement also on Friday, national budget principal sponsor Senator Sonny Angara said in spite of the disagreements, both chambers have found common ground.

He said both panels saw the need to ensure that assistance is provided to “those who require it the most and to keep the momentum going in the country’s move towards economic recovery.”

Angara assured that the signed GAB would roll out “targeted ayuda”; Pantawid Pamilyang Pilipino Program (4Ps); medical assistance; “libreng sakay” programs; scholarships for students; fuel subsidy for jeepney drivers and operators as well as farmers and fishermen; and increase of pension for senior citizens.

He also assured that health frontliners would receive benefits and allowances.

“Inaasahan din natin na matutugunan ng pamahalaan ang patuloy na pagtaas ng presyo ng bilihin, partikular na ang gulay, manok at baboy. Malaking bahagi ng 2023 GAA, mahigit P170 billion, ay nakatugon sa sektor ng agrikultura kung saan ang ating Pangulo mismo ang personal na nakatutok,” the Senator said.