Gatchalian: Proposed 2023 budget targeted to be signed by Marcos before Dec. 15

The proposed budget for 2023 is targeted to be signed by President Ferdinand "Bongbong" Marcos Jr. before December 15, a lawmaker said Wednesday.

"Ang tapos ng bicam is December 5, ang target na mapirmahan ay before December 15, hopefully. But sigurado ako bago ang Bagong Taon ay mapipirmahan ‘yan," Senator Sherwin Gatchalian said on the sidelines of the commemoration of the 159th birth anniversary of Andres Bonifacio in Caloocan City.

(The bicam will be finished by December 5. We are eyeing that it will be signed by the President before December 15. But, I'm sure before New Year, this will be signed.)

Gatchalian is chairperson of the Senate Committee on Finance Sub-Committee E.

Congress has realigned at least P215 billion of the proposed P5.26-trillion budget for fiscal year 2023.

Senator Sonny Angara, chairperson of the Senate finance committee, said the realignment of confidential and intelligence funds (CIF) would remain a point of contention, even as he expressed confidence that everything would be resolved.

The Office of the President is proposing a P4.5-billion CIF for next year, while Vice President Sara Duterte is seeking a P500-million CIF under her office's P2.3-billion proposed allocation.

Angara said the Congress is expected to come up with a reconciled version of the 2023 budget bill next week. — Anna Felicia Bajo/RSJ, GMA Integrated News