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Manila Bulletin devider Business devider Malacañang to submit P6.2 trillion national budget plan for 2025

Malacañang to submit P6.2 trillion national budget plan for 2025

Published Apr 4, 2024 02:13 am

President Marcos is readying a national budget for 2025 that is expected to surpass the P6 trillion mark.

The Development Budget Coordination Committee (DBCC) announced on Thursday, April 4, that the executive department's proposed national budget for the fiscal year 2025 is set at P6.200 trillion. 

The budget is equivalent to 21.4 percent of the country's economy, as measured by the gross domestic product (GDP), according to the DBCC.

Additionally, the proposed budget for the upcoming year is expected to be 7.5 percent higher than this year's general appropriations act (GAA) of P5.768 trillion.

The DBCC said that this increased level of spending is essential for laying the groundwork to achieve the country's development goals.

The planned expenditure of P6.2 trillion is a 1.3 percent uptick from the P6.12 trillion proposal outlined in the Department of Budget and Management's (DBM) 2025 budget call memorandum released last January. 

Under the DBM memorandum, government agencies must submit their signed hard copies of the 2025 budget proposals between March 25 and April 22. 

The proposed 2025 national budget is slated for submission to the House of Representatives on July 22, 2024.

Related Tags

DBCC macroeconomic assumptions 2025 national budget General Appropriations Act (GAA) Development Budget Coordination Committee
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