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MANILA - The PHP5.268 trillion national budget for 2023 contains allocations that will help protect the Philippine economy from the "negative" impact of internal and external shocks, the Department of Budget and Management (DBM) said on Wednesday. The DBM issued the statement a day after the Philippine Statistics Authority (PSA) reported that the country's headline inflation rate in January climbed to 8.7 percent from 8.1 percent in December 2022. The budget department said this year's national budget is composed of allocations intended for the implementation of the government's social protection, economic development, and disaster preparedness programs. "In addition to allocations meant for disaster-related and risk resiliency programs, the budget includes layers of social protection and economic emergency expenditure items that relatively shield the economy and its people from the negative effects of any shocks," it said. "In fact, social protecti

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