Senator Sonny Angara, Senate finance committee chairperson on Tuesday said the government will be spending P14.4 billion on a daily basis next year. READ:
He noted that only P10 billion of this amount can be supported by revenues to be raised by the different agencies of the government.“Yan ang patak ng metro natin kada 24 oras. Before the sun sets, we need to collect P7.2 billion. And before the sun rises, we need to collect again P7.2 billion,” Angara, in his sponsorship speech of the P5.268 trillion budget in 2023, said.
He said President Ferdinand Marcos Jr. has made it clear in his message that every peso that he seeks to spend in 2023 is aligned with his administration’s thrusts. However, he said macropolitical and other exigent conditions can also cause “tectonic shifts” in the government’s fiscal position. He said the budget must also grow with the prices and the inflation spikes operating expenses by the government, a bulk buyer of goods and services.
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