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COTABATO CITY – Bangsamoro Parliament Unanimously Approves PHP98.4 Billion Regional Budget for 2024
In a landmark decision on Thursday afternoon, all 80 members of the Bangsamoro Parliament gave unanimous approval to the PHP98.4 billion regional budget for 2024 in its third and final reading.
The Bangsamoro Expenditure Program (BEP) received the green light after an exhaustive nine-day deliberation, as announced by the office of Bangsamoro Transition Authority (BTA) Speaker Pangalian Balindong.
Endorsed as urgent by Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) Chief Minister Ahod Balawag Ebrahim, the bill's swift approval marked the fastest deliberation since the formation of the BTA in 2019.
The BTA Committee on Finance, Budget, and Management meticulously scrutinized budget proposals from various ministries, agencies, and offices, resulting in unanimous parliamentary approval with increased allocations for several ministries.
The 2024 budget for BARMM operations is 15.3 percent higher than the current budget, amounting to PHP85.3 billion.
The education ministry secures the largest share in the 2024 spending plan, with PHP30.2 billion earmarked to prioritize education, followed by public works and infrastructure with PHP17.7 billion, and health with PHP6.6 billion.
According to Lawyer Ubaida Pacasem, BARMM Minister of Finance, Budget, and Management, next year's budget includes PHP70.5 billion from the Annual Block Grant outlined in the 2024 National Expenditure Program (NEP), PHP5 billion from shares in national taxes collected within the BARMM as provided in the NEP, PHP5 billion for the Special Development Fund, PHP471 million from projected regional taxes, and PHP17.3 billion from declared savings from previous years. (PNA)
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