MANILA : Philippine President Ferdinand Marcos Jr asked Congress on Monday for a record 5.29 trillion pesos ($94.40 billion) government budget in 2023 to support an ambitious policy agenda aimed at boosting growth and lifting millions out of poverty. Marcos' proposed budget, which is equal to 22.2 per cen
MANILA : Philippine President Ferdinand Marcos Jr asked Congress on Monday for a record 5.29 trillion pesos government budget in 2023 to support an ambitious policy agenda aimed at boosting growth and lifting millions out of poverty.
He is aiming to expand the Southeast Asian economy by as much as 8 per cent during his six-year term, to keep its place among Asia's fastest-growing nations, and halve the poverty rate, which stood at 18.1 per cent in 2021. Congress is expected to approve the budget by October and Marcos is expected to sign it into law before year's end.
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