“As we receive this document, we recognize the collective responsibility bestowed upon us as legislators to scrutinize, deliberate and ensure that every peso is judiciously allocated and spent,” Speaker Martin Romualdez said during the ceremonial turnover of the proposed budget.
“I’m confident that with the collaborative efforts of the executive and legislative branches, we will achieve a budget that not only meets the immediate needs of our people but also sets the stage for a more prosperous and equitable Philippines,” he added.
Budget Secretary Amenah Pangandaman said the Internal Revenue Allotment – renamed National Tax Allotment – for 2025 is “18.7 percent higher” than this year’s allocation of P871 billion.
This story is from the July 30, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July 30, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
ALI ind'l unit heating up cold storage business
The industrial real estate unit of property giant Ayala Land Inc is heating up its cold storage business as it looks to become a major player in the segment over the next five years.
Financial resources grow 10% as of July
The total resources of the country's financial system breached the P32-trillion level, posting a double-digit growth in the first seven months of the year, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed.
Gov't urged to assist online sellers in BIR registration
Online entrepreneurs should be given proper assistance to comply with Bureau of Internal Revenue (BIR) registration requirements as the tax agency starts a crackdown on unregistered entities, an advocacy group said.
FLI diversifies into condotels
Filinvest Land Inc.(FLI) is adding the condotel business in its diverse project portfolio with the acquisition of outstanding shares in Fora Services Inc. (FOSI).
Maya, Grab team up for instant credit
Digital lender Maya Bank has partnered with Grab Philippines to offer instant credit services among eligible users, boosting Filipinos' access to financial solutions while integrating more convenience into their daily lives.
SMIC sees better H2 performance
Analysts see a stronger second half performance for the investment holding company of the Sy family.
SM Hotels taps TUV Rheinland for food safety, hygiene policies
SM Hotels and Conventions Corp.(SMHCC) has tapped testing service provider TUV Rheinland to ensure the highest standards of safety and quality for dining experiences.
Expanded regulatory power of GCG pushed
The Governance Commission on GOCCS (GCG) is expected to expand its regulatory powers once the 13-year-old law surrounding its mandate is amended.
Compliance woes stall Pag-IBIG home loan releases
The Home Development Mutual Fund, commonly known as Pag-IBIG Fund, is facing challenges in the release of its housing loans, with only a little over 50 percent of the target reached as of August.
Phl bond market slows in Q2
Philippine bond market growth moderated in the second quarter from the previous quarter due to lower government and corporate issuances, the Asian Development Bank (ADB) said.
