Two weeks ago, the Senate started deliberations on the proposed 2024 budget of the Marcos administration, which is at a record high of P5.768 trillion or 9.5 percent higher than this year's budget of P5.268 trillion. According to the Department of Budget and Management (DBM), the increase in the budget for next year is designed to 'future-proof' and 'spur its high growth trajectory' so that the Philippines will attain upper middle-income status by 2025. Last week, Sonny Africa, executive director of the alternative economic think tank Ibon Foundation, wrote a three-part analysis of President Marcos' proposed budget for 2024, calling it 'a budget badly made.

https://opinion.inquirer.net/165881/future-proofing-our-national-economy

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