Serame goes big with record P102bn spending plan

Balancing numbers: Serame during her Budget Speech earlier today PIC: MORERI SEJAKGOMO
Balancing numbers: Serame during her Budget Speech earlier today PIC: MORERI SEJAKGOMO

Finance Minister, Peggy Serame, has presented Parliament with budget spending proposals of P102 billion for 2024-25, a record funding request she said would “create opportunities for all to play a meaningful role and contribute to economic transformation”.

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.


Editor's Comment
Women in Politics caucus NGO, a welcome development

In the 2014 General Election, women who stood for parliamentary elections were a mere 17 out of a total of 192 aspirants, and sadly the number dropped to 11 out of 210 parliamentary aspirants in the 2019 General Election. Hopefully, registration of the Women in Politics Caucus will give women the necessary support to join politics. While things were slowly improving, women for a long time were at the receiving end as compared to their male...

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