House Speaker Ferdinand Martin Romualdez said Wednesday, August 10, that the House of Representatives, under his leadership, will ensure that the projected P5.678 trillion 2024 national budget is judiciously spent in every centavo on government services.

"Obligasyon po natin na bawat sentimong buwis na ibinabayad ng ating mga kababayan ay magagamit ng tama at nararapat," Romualdez said during the 2024 budget briefing.

"Bawat sentimo nila, may serbisyong kapalit mula sa gobyerno," he added.

The House Speaker also encouraged his colleagues to be champions of fiscal prudence, effective resource allocation, and transparent governance.

Romualdez further said that they should remain committed to their collective resolve to uplift the lives of the Filipino people and pave the way for the Philippines to have a brighter future.

He emphasized that the budget briefing is a meticulous activity that necessitates accuracy, objectivity, and transparency.

Romualdez added that the House is required to thoroughly examine the proposed national budget for 2024 and provide results that would sustain gains made in the previous year and support the government's priorities and policy directions.

Apart from that, he gave a five-week deadline for the lower chamber to pass the 2024 general appropriations bill, which will be reviewed at the committee level for four weeks and one week in plenary prior to the October recess.

The plenary chamber was attended by Department of Budget and Management (DBM) Secretary Amenah Pangandaman, Finance Secretary Benjamin Diokno, National Economic Development Authority (NEDA) Secretary Arsenio Balisacan, and Bangko Sentral ng Pilipinas Governor Eli Remolona.

They defined the principles utilized in constructing the 2024 National Expenditure Program, President Marcos’ first completely planned budget.

Meanwhile, the Development Budget Coordination Committee's budget deliberation marked the start of hearings on the budget plan submitted to Congress by President Ferdinand Marcos Jr.