Today, we begin the budget briefing for Fiscal Year 2024.
At the 1st Development Budget Coordination Committee (DBCC) Briefing, we asked our economic managers essential questions to set the tone for the 2024 National Budget deliberations. Looking at the present status and projections of the Philippine economy, we inquired whether the target GDP growth of 6.5%-8% is achievable by the end of 2023; the reasons for government underspending and how the government may address this; and whether the Philippines can achieve upper middle-income status by 2025, including the percentage of Filipinos who are set to benefit from the classification.
As public servants, we must look beyond the numbers and consider the faces of the vulnerable and marginalized who stand to be affected by our decisions. Every centavo in this budget must be used purposefully to uplift lives, ensure equitable opportunities, and embody inclusivity, environmental protection, and our shared values.
Let us ensure a just and compassionate future for our nation through our deliberations today and throughout this budget season.
