Senate panel approves DOF’s P30-B budget proposal for 2023

The Senate finance committee on Monday approved the P30.570 billion proposed budget of the Department of Finance for 2023.

The proposed budget for the next fiscal year is 14.34% or P3.833 billion higher than the P26.736 billion budget for 2022.

Of the P3.833 billion, P2.362 billion will be allocated to the Bureau of Customs.

According to their presentation, 78.1% or P17.9 billion the DOF’s new appropriations will fund their operations for 2023.

Of the said amount, P9.590 billion will go to the Bureau of Internal Revenue’s Revenue Administration Program and P3.188 billion for Customs Revenue Enhancement Program.—AOL, GMA News