Serame goes big with record P102bn spending plan
Monday, February 05, 2024 | 2200 Views |
Balancing numbers: Serame during her Budget Speech earlier today PIC: MORERI SEJAKGOMO
According to Serame’s proposals, the 2024-25 budget should see revenues of P93.6 billion set against expected expenditure of P102.3 billion – the highest spending ever proposed in a single budget in the country’s history. The figures point to a forecast deficit of about P8.7 billion or nearly minus three percent of GDP, the highest budget shortfall since the COVID year of 2020.
Serame however said the “stimulus” budget was necessary to drive the country towards its high-income economy target, while also pushing other national priorities outlined in the RESET and Reclaim agenda.
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