Climate outlay hits P464B in 2023
The Marcos administration has allotted P464.5 billion in the 2023 national budget to address climate change.
The Department of Budget and Management said on Saturday, as the country celebrated Earth Hour, this year’s budget for the environment is significantly higher by 60.1 percent compared to the 2022 allocation of P289.7 billion.
“The DBM ... strives to implement programs and initiatives that infuse environmentally friendly parameters, such as the institutionalization of the Sustainable/Green Public Procurement, which enables the procurement of goods and services that have reduced environmental impact,” it said.
Finance Secretary Benjamin Diokno earlier this week said the administration under President Ferdinand R. Marcos Jr. remains committed to strengthening inter-sectoral ties for economic recovery.
During the Federation of Filipino-Chinese Chambers of Commerce and Industry Inc.’s 33rd Biennial Convention, Diokno said the Marcos Jr. administration is built on the premise that unity is vital for recovery.
“We will stay true to this principle and strengthen inter-sectoral linkages as envisioned in the Philippine Development Plan 2023 to 2028,” Diokno said.
He emphasized the importance of enhancing the ease of doing business through digitalization, citing the E-Governance Bill recently passed in the House of Representatives.
“Once enacted, the bill is expected to enhance the ease of doing business in the country and improve public trust in the government. As business leaders, I hope that you will lead the charge in ushering in digital transformation initiatives in your respective fields and industries,” he said.
RCEP now moving
The Philippines, he said, is now part of the largest trade agreement in the world, along with China.
The Regional Comprehensive Economic Partnership agreement creates a free trade zone covering 30 percent of the world’s population, 29 percent of global gross domestic product, 29 percent of global trade, and 33 percent of global inward investments in 2020.
Since RCEP promotes the growth and development of MSMEs, which comprise 99 percent of businesses in the Philippines, he added that he was looking forward to more opportunities in the Filipino-Chinese business community.
“I look forward to the Federation’s continued support in fostering friendly relations between the Filipino and Chinese business communities in the years to come,” Diokno said.