Malacañang has dismissed former lawmaker Zaldy Co’s allegations against President Marcos as “wild accusations” and challenged him to return to the Philippines and prove his claims before the proper authorities.

This came after Co, in a Facebook video, alleged that President Marcos ordered the insertion of at least P100 billion worth of projects in the 2025 General Appropriations Act (GAA).

In a press briefing in Malacañan on Friday, Nov. 14, Presidential Communications Office (PCO) Secretary Dave Gomez said the accusations — issued by Co from overseas — “have no basis in fact” and contradict the President’s own campaign to expose and fix irregularities in flood-control projects.

“These wild accusations are completely without basis in fact. All the charges leveled against the President are pure hearsay,” he said.

Gomez stressed that it was President Marcos who first uncovered the anomalies and ordered full investigations, recovery of public funds, and reforms to prevent future abuses.

“Rep. Zaldy Co should come back to the country and sign everything he said under oath with the proper judicial authorities,” he added.

Department of Budget and Management (DBM) Secretary Amenah Pangandaman rejected suggestions that the President was involved in alleged budget “insertions,” noting that all executive proposals are already included in the National Expenditure Program (NEP).

“All appropriations ordered by the President are already in the NEP. That is why it is called the President’s Budget,” she said.

She explained that once the NEP is submitted to Congress, the Executive Branch has no participation in the bicameral process.

“We respect and strictly follow the budget process, and all our actions are aboveboard,” Pangandaman said.

PCO Undersecretary Claire Castro said Co’s name surfaced in the flood-control probe because of documents, testimonies, and questions over properties allegedly linked to him — not due to any action by President Marcos.

“Lahat ng mga sinasabi ni Zaldy Co ay pawang mga imbento lamang — walang basehan, walang ebidensya (Everything Zaldy Co is saying is pure invention — no basis, no evidence),” she said.

She added that Co is attempting to “avoid accountability” as investigators close in.

“Dahil lumiliit na ang mundo ni Zaldy Co, kailangan niyang umiwas at iiwas ang sarili at mag-name drop kahit walang katibayan (Because Zaldy Co’s world is shrinking, he now has to evade and drag others into this without proof),” she said, noting that Co’s narrative “raises more questions than answers” about his role in the anomalies.

Asked about the next steps, Castro said there is no legal basis to cancel Co’s passport since no arrest warrant has been issued and courts have not declared him a fugitive. She also rejected the idea that Co poses a national security threat, saying the possible charges relate only to graft and corruption.

Castro reiterated that the simplest path forward is for Co to testify in person.

“Mas magandang umuwi siya rito… humarap siya sa kaso niya (It would be better for him to return here and face his cases),” she said.

The Palace Press Officer also denied claims that President Marcos convened an emergency security meeting or is panicking over Co’s allegations or upcoming rallies.

“Wala pong panic mode (There is no panic mode). We just need to explain to our people who is really telling the truth,” Castro said.

She also dismissed Co’s assertion that his life is in danger.

“Hindi po ba dapat siya ang magpatunay kung may banta sa buhay niya (Shouldn’t he be the one to prove that his life is threatened)?” she said.

Asked about Vice President Sara Duterte’s statement that the administration is becoming “paranoid,” Castro said it is normal for the government to monitor destabilization threats.

“Ang paranoia… direct cause ito ng emotional outburst. Meltdown. Hindi po nagme-meltdown ang ating Pangulo (Paranoia is a direct cause of an emotional outburst. A meltdown. The President is not having a meltdown),” she said.

On the economy, Castro said recent calamities and long-standing corruption cases — including those from previous administrations — have contributed to slower growth.

“Maraming anomalya… lahat ng kalat ng nakaraan, ngayon po natin nililinis (There are many anomalies… all the mess of the past, we are now cleaning up),” she said.

Despite these challenges, Castro said the President and the economic team remain focused on improving growth.

“Ang pangako ng Pangulo: gagawin ang lahat… para mapaangat pa ang ekonomiya (The President’s promise is to do everything… to lift the economy further),” she said.

Meanwhile, former chief presidential legal counsel Salvador Panelo said it might be “game over” for the current administration if Co’s claims were proven true.

“PBBM’s action — if Zaldy Co’s confession is validated and corroborated by documentary and other testimonial evidence — is a betrayal of the public trust — which is an impeachable ground under the Constitution,” he said in a statement.

“It’s game over for the present political power holders,” he added.

According to Panelo, President Marcos’ cohorts in Congress, as well as the Department of Public Works and Highways (DPWH) officials and contractors who benefited from the corruption, “should all be prosecuted, and after due process, must be clamped to jail.”

“PBBM can not escape accountability for the massive flood control projects' corruption because, as the President, he prepared the national budget through his Department of Budget and Management,” he said.

“His allies in Congress made the insertions and passed the General Appropriations Bill, which he signed into law. He knew of the insertions, but he approved the same, hence I said he was complicit and guilty of corruption,” he added.

Panelo said Marcos’ “innocent outrage and innocent posturing and launching of investigation” into the unprecedented anomalies were all pretense and a cover-up of his supposed wrongdoing.

He also suggested that the planned three-day rally from Nov. 16 to 18 in Manila and Quezon City by various religious and business groups, as well as angry citizens, “will dictate the course of history that our country will take.”