Philippines' Marcos seeks record $131b budget for 2023

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Education, infrastructure, food security, healthcare and clean energy get top priority in budget. Read more at straitstimes.com.

MANILA - Philippine President Ferdinand Marcos Jr asked Congress on Monday for a record 5.29 trillion pesos government budget in 2023 to support an ambitious policy agenda aimed atMr Marcos' proposed budget, which is equal to 22.2 per cent of the country's total economic output, is nearly 5 per cent higher than his predecessor's spending plan for 2022.

Education, infrastructure, food security, healthcare and clean energy got top priority in the 2023 budget, which was presented to Congress by a presidential representative. The education sector will receive the highest allocation of 852.8 billion pesos or 16 per cent of the total budget, followed by public works with 13 per cent, healthcare with 5 per cent, and social welfare with about 4 per cent, Mr Marcos said in a statement that accompanied the budget proposal.

 

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