President Marcos has approved the proposed P6.793-trillion national budget for fiscal year 2026, Malacañang announced on Tuesday, July 15. Palace Press Officer and Communications Undersecretary Claire Castro disclosed that Marcos approved the proposed national budget during a Cabinet meeting at...
Fifteen years from now, the Philippine economy could accelerate by 6.8 percent yearly if the country continues to improve regional connectivity, productivity, and resource allocation, the Washington-based World Bank stated. According to the multilateral lender’s latest report on Philippine growth...
Senator Panfilo "Ping" Lacson revealed that some lawmakers are receiving substantial "pork barrel" allocations worth billions. In an interview on One News late Wednesday, July 9, Lacson stated some members of the House of Representatives reportedly get up to ₱15 billion while some senators...
The Office of the Vice President (OVP) may receive P903 million as budget for the next fiscal year, OVP spokesperson Ruth Castelo said on Wednesday, July 9, after the Department of Budget and Management (DBM) raised its original proposal. Originally, the OVP made a P733-million proposal, similar...
The transition team of Cebu Gov. Pamela Baricuatro was surprised over the 2025 annual budget of the province. Jose Esgana, the former mayor of Santa Fe, Cebu who headed Baricuatro’s transition team, said they learned that the province’s P25-billlion annual budget has some allocation that is not...
Senator Joseph Victor “JV” Ejercito has filed a bill proposing a ₱74.4-billion additional budget for Philippine Health Insurance Corp. (PhilHealth) to strengthen its programs and uphold its mandate of the Universal Health Care (UHC) Act. Ejercito, principal sponsor of the UHC law, emphasized...
Malacañang has expressed its support for moves to institutionalize transparency in the budget deliberations. Palace Press Officer and Communications Undersecretary Claire Castro said the Palace respects the independence of the Congress in pushing to institutionalize a transparent budget...
The Senate is open to proposals seeking to enhance transparency of the budget process by opening the bicameral deliberations to the public. Senate Secretary Renato Bantug Jr. said the bicameral conference is a joint undertaking of the Senate and the House of Representatives, so both chambers have...
The Philippines’ plan to temper spending on public goods and services in a bid to narrow its budget deficit to pre-pandemic levels may slow economic growth, according to the think tank Capital Economics. “Monetary easing across the region should support consumption and investment, but tighter...
Despite limited resources, the Cabinet-level Development Budget Coordination Committee (DBCC) has approved a record-high national budget for next year at ₱6.79 trillion, with a focus on social services. Next year’s record-high budget would support sustained delivery of public goods and services...
Economy, Planning, and Development Secretary Arsenio M. Balisacan has expressed confidence that the Philippine economy can accelerate to a growth rate of 5.5 percent to 6.5 percent after downscaling from the more ambitious growth target previously. Despite concerns of slower household consumption,...
Economic managers have tweaked downwards the gross domestic product (GDP) target to 5.5 to 6.5 percent from six to 6.5 percent previously, citing the increased external uncertainties, especially the ongoing Middle East conflict and the imposition of United States (US) tariffs. Cabinet-level...
