Sen. Grace Poe, chairperson of the Committee on Finance, during one of the Senate deliberations. (Senate Public Relations and Information Bureau)
MANILA, Philippines — Sen. Grace Poe on Wednesday said that Malacanang’s decision to defer the signing of the General Appropriations Act (GAA) for further assessment by President Ferdinand “Bongbong’ R. Marcos Jr. is a healthy sign of democracy.
Executive Secretary Lucas Bersamin said certain items and provisions of the national budget bill will be vetoed in the interest of public welfare.
Article continues after this advertisementPoe, for her part, said the Senate needs to support the checks and balances of the budgetary process.
FEATURED STORIES NEWSINFO Quad comm seeks crimes against humanity raps vs Duterte, Bato, Bong Go NEWSINFO MMDA issues coding suspension schedule for the holidays NEWSINFO Paolo Duterte OK with probe, but says it must not be based on hearsay“The President has the authority to assess the budget and approve or veto the proposed GAA. I believe his economic managers are giving the President the best advice possible given the situation. The GAA is the most important piece of legislation that can determine our economic stability and our gross domestic product growth in 2025,” she told reporters in a text message on Wednesday.
To recall, at the time the contract was terminated last August—four years after it was awarded—AllCard delivered 49.9 percent of its commitment to supply raw materials for the production of 116 million blank cards.
The country’s balance of payments (BOP) position recorded a $3.5-billion surplus in September, a reversal from the $414-million deficit posted a year ago, the BSP said in a report.
A similar sentiment was aired by Senate President Francis Escudero, who noted that the Palace’s decision is part of the legislative process and the system of checks and balances in the Philippine Constitution.
Article continues after this advertisement“The Executive is well within its rights and prerogatives to review, study, and make line-item vetoes—as is usually done every year with the General Appropriations Bill—especially given its length, complexity, and detail,” he said.
Article continues after this advertisementMarcos earlier vowed to restore the P10 billion that was slashed from the proposed funding of the Department of Education (DepEd), previously explaining that the proposed cut from the DepEd’s computerization program was “contrary to the policy direction” of his administration on education.
lele247 slotThe proposed 2025 national budget is 10.1 percent higher than the current national budget of P5.768 trillion, as projected earlier by the Department of Budget and Management.
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