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...
The Marcos administration, through the Department of Budget and Management (DBM), has already set its national budget priorities for 2026 based on the government’s medium-term development plan. Given the country’s “limited fiscal space,” new budget proposals will be evaluated based on their...
Next year's midterm elections could temper government expenditures due to a scheduled ban on new spending, such that the Cabinet-level Development Budget Coordination Committee (DBCC) has urged prompt disbursements as well as implementation of programs and projects under the proposed...
President Marcos has appointed Jaime Alfonso Antonio Eder Zobel de Ayala as Member of the Department of Trade and Industry’s Inter-Agency Investment Promotion Coordination Committee. Zobel will be Private Sector Representative from the National Capital Region for a term of three years, said...
The country’s ambition to become upper middle-income status could be achieved in 2026, later than the government’s projection of 2025. That is, if the peso does not depreciate. National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan, during a briefing on Thursday, June...
In light of the country's expected slower growth this year, the economic managers have adjusted downward the projected tax collections for the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC). Budget Secretary Amenah F. Pangandaman confirmed to Manila Bulletin on Saturday, June 1,...
The Marcos administration is looking to ramp up the sale of government assets this year, data from the Development Budget Coordination Committee (DBCC) revealed. Based on the DBCC's quarter fiscal program approved last May 23, the national government expects to generate P42.12 billion in proceeds...
The Marcos administration has raised its budget deficit ceilings for the next five years to provide the necessary financial leeway to support the government's projects and programs. Based on the latest revenue and spending outlook from the Development Budget Coordination Committee (DBCC), the...
In response to global trade disruptions and geopolitical tensions, the Marcos administration has adjusted its economic growth targets, the Development Budget Coordination Committee (DBCC) announced. The DBCC, an inter-agency body responsible for setting the country's macroeconomic assumptions, has...
