(File photo) MANILA - House Committee on Appropriations chairman Zaldy Co on Monday expressed support to the 40-percent increase in the budget of the Department of Agriculture as it would help increase food supply and reduce prices. During the budget hearing, Co described as "unprecedented" the huge percentage increase in the agriculture sector's budget from PHP117.29 billion in 2022 to PHP163.75 billion in 2023. "This budget increase should ensure the country's food security-meaning, as per President Marcos's directive, local food supply should increase and, by the law of supply and demand, result in lower food prices," Co said. Co said the House also supports President Ferdinand "Bongbong" Marcos Jr.'s directive to strengthen the agriculture sector to achieve food security and sufficiency. "This institution is united with the President in building and strengthening the foundations of our agricultural economy for an even stronger national food security. We strive for a more prosperous, climate-resilient, and empowered Filipino countryside," he said. Co, citing Marcos, also noted that agriculture is a major driver of economic growth and job creation. "The road ahead is difficult but surmountable. As the nation embarks on a new chapter of socio-economic transformation, the agriculture sector must remain at the forefront of our collective effort to create more jobs and reduce poverty, and improve the lives of every Filipino, especially farmers and fishermen," he said. Deputy Speaker Ralph Recto earlier said the budget increase should be supported because "to beat hunger, a country should not starve its farming sector of funds." "You can say that this is the beginning of the end of a funding drought," Recto said. Recto said eight big agricultural agencies deemed as government corporations will likewise be getting hefty increases in budgetary subsidy from the national government. From PHP46.2 billion this year, subsidies to the National Food Authority, Sugar Regulatory Administration, National Irrigation Administration, Philippine Rice Research Institute, Philippine Fisheries Development Authority, National Tobacco Administration, Philippine Coconut Authority, and National Dairy Authority will go up to PHP62 billion or 33 percent jump. Of the eight, the NFA will post the biggest hike, a 71 percent jump from PHP7 billion to PHP12 billion. This will allow NFA to hike its buffer stock capacity from nine days to 15 days. Next is SRA, which has been earmarked a budget subsidy of PHP1 billion, up by 41 percent, from this year's PHP712.2 million. At the so-called "DA Proper", the Office of the Secretary (OSEC) will see its budget surge from PHP61 billion to PHP90.2 billion, a 48 percent or PHP29 billion hike. The OSEC will run the National Rice Program whose allocation will be doubled from PHP15.8 billion in 2022 to PHP30.5 billion in 2023. (PNA) }
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Manila ,Philippines ,Philippine ,Benguet ,Filipino ,Ferdinand Bongbong Marcos Jr ,House Committee On Appropriations ,Department Of Agriculture ,National Dairy Authority ,Philippine Fisheries Development Authority ,Sugar Regulatory Administration ,Philippine Rice Research Institute ,National Rice Program ,Philippine Coconut Authority ,Zaldy Co On ,National Food Authority ,National Irrigation Administration ,National Tobacco Administration ,President Marcos ,President Ferdinand ,Speaker Ralph Recto ,Ile Photo Manila House Committee On Appropriations Chairman Zaldy Co Monday Expressed Support To The 40 Percent Increase In Budget Of Department Agriculture As It Would Help Food Supply And Reduce Prices During Hearing ,O Described As Quot Unprecedented The Huge Percentage Increase In Agriculture Sector 39s Budget From Php117 29 Billion 2022 To Php163 75 2023 This Should Ensure Country Food Security Meaning ,S Per President Marcos 39s Directive ,Ocal Food Supply Should Increase And ,Y The Law Of Supply And Demand ,Esult In Lower Food Prices ,Uot Co Said The House Also Supports President Ferdinand Quot Bongbong Marcos Jr 39s Directive To Strengthen Agriculture Sector Achieve Food Security And Sufficiency This Institution Is United With In Building Strengthening Foundations Of Our Agricultural Economy For An Even Stronger National We Strive Fora More Prosperous ,Climate Resilient ,Nd Empowered Filipino Countryside ,Uot He Said Co ,Iting Marcos ,Lso Noted That Agriculture Isa Major Driver Of Economic Growth And Job Creation Quot The Road Ahead Is Difficult But Surmountable As Nation Embarks Ona New Chapter Socio Transformation ,He Agriculture Sector Must Remain At The Forefront Of Our Collective Effort To Create More Jobs And Reduce Poverty ,Nd Improve The Lives Of Every Filipino ,Specially Farmers And Fishermen ,Uot He Said Deputy Speaker Ralph Recto Earlier The Budget Increase Should Be Supported Because Quot To Beat Hunger ,A Country Should Not Starve Its Farming Sector Of Funds Quot You Can Say That This Is The Beginning End Ofa Funding Drought ,Uot Recto Said Eight Big Agricultural Agencies Deemed As Government Corporations Will Likewise Be Getting Hefty Increases In Budgetary Subsidy From The National Php46 2 Billion This Year ,Ubsidies To The National Food Authority ,Nd National Dairy Authority Will Go Up To Php62 Billion Or 33 Percent Jump Of The Eight ,He Nfa Will Post The Biggest Hike ,A 71 Percent Jump From Php7 Billion To Php12 This Will Allow Nfa Hike Its Buffer Stock Capacity Nine Days 15 Next Is Sra ,Hich Has Been Earmarkeda Budget Subsidy Of Php1 Billion ,P By 41 Percent ,Rom This Year 39s Php712 2 Million At The So Called Quot Da Proper ,He Office Of The Secretary Osec Will See Its Budget Surge From Php61 Billion To Php90 2 ,A 48 Percent Or Php29 Billion Hike The Osec Will Run National Rice Program Whose Allocation Be Doubled From Php15 8 In 2022 To Php30 5 2023 Pna ,
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