House OKs ₱6.35-T budget for ’25; OVP gets ₱733M

Quick Summary:

VOTING 285-3-0, the House of Representatives approved on third and final reading late Wednesday HB 10800 or the proposed General Appropriations Bill.

The government also expects inflation to remain manageable, projecting a rate between 2.0 percent and 4.0 percent in 2025.The total budget is P6.352 trillion, or 22.1 percent of GDP, with P4.247 trillion for new appropriations and P2.105 trillion for automatic appropriations.

But Romualdez emphasized the importance of keeping the OVP funded to ensure that services provided by the office continue uninterrupted and to safeguard the jobs of its employees.“Following our consultations with political party leaders from the Nacionalista Party (NP), Nationalist People’s Coalition (NPC), National Unity Party (NUP), Party-list Coalition Foundation, Inc., and others, we adhered to the Appropriations Committee’s recommendation after their thorough review,” Romualdez said.

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Author / Journalist: Jovee Marie N. de la Cruz

Category: BusinessStartups

Markets: Philippines

Topics: 2025 Services Percent Billion Budget Department President National Appropriations Social House

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-25 @ 16:21:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 1020 words

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Sentences: 32 lines

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Copyright Owner: © Business Mirror

News ID: 22708334

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