The Philippines' defense budget for FY2024 has been confirmed to be Php278.368 billion (approx. US$5 billion), with another Php10 billion in Unprogrammed Funds that can be accessed only when additional government funding is available. Of this amount, Php40 billion (approx US$720 million) is allocated for the AFP Modernization Program, with the Php10 billion mentioned earlier as possible augmentation if funds are available (photo: Zach Abdi)
MANILA – Department of National Defense (DND) Secretary Gilberto Teodoro Jr. expressed hope that the modernization of the Armed of the Philippines (AFP) would be intensified with the timely enactment of the 2024 General Appropriations Act (GAA).
Teodoro said this would pave the way for the improvement and upgrades of its facilities and equipment needed for enhancing its capabilities to protect and defend the nation.
"(With the signing of the 2024 GAA) mag-uumpisa ang matindi at serious na upgrades ng AFP (this will start the enhanced and serious capabilities development of AFP)," Teodoro said on the sidelines of the turnover of the Japanese-made air surveillance radar system to the Philippine Air Force in San Fernando, La Union on Wednesday.
The DND chief said these planned upgrades of the AFP shows that the Philippines is not relying too much on its allies.
Teodoro said it is also important to show these countries that the Philippines is doing its best to upgrade its military capabilities.
On Wednesday, President Ferdinand R. Marcos Jr. signed next year's budget bill into law in a ceremony at Malacañan Palace in Manila.
The PHP5.768-trillion budget for 2024 will be tapped to fund the administration’s key programs and projects for next year to expedite the country’s recovery in a post-pandemic era.
Sectors that received a higher funding allocation for next year include defense, transporation and education.
(PNA)