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Manila Bulletin devider Business devider Banking & Finance devider Gov't slashes 2026 privatization goal to ₱38 billion; defers big-ticket asset sales to 2027

Gov't slashes 2026 privatization goal to ₱38 billion; defers big-ticket asset sales to 2027

Published Aug 11, 2026 06:01 pm  |  Updated Aug 11, 2026 04:25 pm

At A Glance

  • Marcos administration has significantly tweaked its fiscal strategy by delaying major asset disposals from 2026 to 2027, Department of Budget and Management (DBM) documents revealed.
Finance Secretary Frederick D. Go
Finance Secretary Frederick D. Go

The Marcos Jr. administration has significantly tweaked its fiscal strategy by delaying major asset disposals from 2026 to 2027, Department of Budget and Management (DBM) documents revealed.

According to the latest medium-term revenue projections spanning 2025 through 2029, the bulk of privatization proceeds originally slated for this year has been shifted to 2027.

Revised from previous budget documents, the 2026 privatization target has been slashed to ₱38.1 billion, down from the ₱101 billion initially programmed.

This reduction is expected to be compensated by a massive spike in the 2027 target, which has been upgraded to ₱101.5 billion—a staggering increase from the mere ₱1.5 billion previously estimated.

Last month, the Department of Finance (DOF)-attached Privatization and Management Office (PMO) sold the entire fifth floor of Atrium of Makati to Sanpiro Realty Development Corp. This pushed privatization revenue to ₱1.9 billion in the first half of 2026, nearly matching the ₱2-billion haul for the whole of 2025.

According to Chief Privatization Officer (CPO) and DOF Undersecretary Michael Peter A. Alejandro, more idle state assets valued at roughly ₱30 billion are expected to be disposed of through privatization in 2026.

Following Atrium of Makati’s sale, the government is now eyeing the faster sale of the Mile Long complex, also in Makati City, a portion of state-run Food Terminal Inc.’s (FTI) property in Taguig City, and its shares in South Luzon Expressway (SLEX). These assets are slated for disposal in the second half of 2026.

Based on zonal values, Mile Long is currently valued at approximately ₱10 billion, while FTI is valued at around ₱20 billion.

This delay in idle asset sales implies that large-scale idle real estate intended for sale this year may require more time for valuation or market readiness.

Meanwhile, the outlook for 2028 remains unchanged at ₱975 million, while the newly introduced 2029 projection is set at ₱700 million.

Despite these shifts in timing, the Marcos Jr. administration is sticking to its broader fiscal consolidation, aiming for total revenues of ₱5.21 trillion by 2027 to support national development.

There is also a conservative recalibration of national revenue targets for 2026 through 2029, reflected in lower tax assumptions and a massive rescheduling of privatization gains.

Compared with the previous year’s outlook, the 2026 total revenue target has been revised downward to ₱4.81 trillion from the ₱4.98 trillion initially projected. A similar trend follows for 2027, with the target lowered to ₱5.21 trillion from ₱5.37 trillion.

Documents showed the downward adjustment is due to lower tax haul estimates, now set at ₱4.44 trillion for 2026 from ₱4.63 trillion, and ₱4.85 trillion for 2027 from over ₱5 trillion previously.

Taxes on net income and earnings remain the drivers of the revenue goal, estimated to generate ₱1.84 trillion this year and ₱2 trillion in the year ahead.

Value-added tax (VAT) is projected to contribute ₱762.4 billion in 2026, while taxes on international trade and transactions are slated to add over ₱1 trillion.

While tax targets dipped, 2026 non-tax revenues saw an upgrade to ₱327 billion, higher than the ₱249.1 billion projected earlier, led by Bureau of the Treasury (BTr) income and higher-than-expected dividends on shares of stock.

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Department of Finance (DOF)
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