Ceremonial Hall, Malacañan Palace
December 16, 2022
President Ferdinand R. Marcos Jr. signed into law the 2023 National Budget in a ceremony at the Malacañan Palace.
The General Appropriations Act (GAA) of 2023 amounting to PhP5.268 trillion shall also be known as Republic Act (RA) No. 11936 or an ‘Act Providing for the Operation of the Government of the Republic of the Philippines from January 1 to December 31, 2023’.
In his keynote speech, President Marcos Jr. expressed his appreciation and acknowledged the efforts of the Philippine Legislature, the Department of Budget and Management (DBM) and all those who participated in crafting the national budget, as the Administration realizes its goals and fulfills its entire vision for the country.
Sectors given top priority in the Administration’s first national budget include education, public works, health, social welfare, agriculture and transportation. The DBM will ensure the early release of allotments through the General Appropriations Act as an Allotment Order (GAAAO), which enables agencies to immediately start obligating their funds as early as January 2023 and implement their priority programs and projects at the beginning of the fiscal year.
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