Versuchen GOLD - Frei
Recto urges Congress to stick to fiscal plan in budget talks
The Freeman
|August 19, 2025
Finance Secretary Ralph G. Recto has called on lawmakers to follow the government's updated Medium-Term Fiscal Program (MTFP) as they prepare the 2026 national budget, stressing the need to use public funds wisely and effectively.
-
"Let us operate within the parameters of the Medium-Term Fiscal Program that reduces our deficit and debt gradually, creates jobs, increases income, and decreases poverty," Recto said during a briefing with the House Committee on Appropriations on August 18, as reported in the Finance Department's website.
He added that the 2026 General Appropriations Act (GAA) must "work as hard as the people who fund it—the taxpayers."
The Medium-Term Fiscal Framework (MTFF), first created in 2022, was revised in 2024 by Secretary Recto to make its goals more realistic and responsive to current global challenges. These include the aftereffects of the COVID-19 pandemic and global conflicts such as the wars in Ukraine, Gaza, and Iran, as well as ongoing trade tensions.
The revised framework aims to reduce the country’s budget deficit and debt slowly but surely, while also creating jobs, raising incomes, and helping more Filipinos escape poverty.
"And under this, we have ensured that every peso collected or borrowed will be stretched to deliver the biggest bang per buck for the Filipino people," Recto said.
Recto reported that government revenues have been on a strong upward trend, growing by an average of 13.8% annually for the last three years. Tax collections have also steadily risen by 11.5% annually. In 2024, the revenue-to-GDP ratio reached 16.7%—the highest in 27 years.
Diese Geschichte stammt aus der August 19, 2025-Ausgabe von The Freeman.
Abonnieren Sie Magzter GOLD, um auf Tausende kuratierter Premium-Geschichten und über 9.000 Zeitschriften und Zeitungen zuzugreifen.
Sie sind bereits Abonnent? Anmelden
WEITERE GESCHICHTEN VON The Freeman
The Freeman
CCPO reports 24.1% downtrend in crimes
The Cebu City Police Office (CCPO) has reported a 24.1 percent reduction in overall incidents and a 52.2 percent decline in vehicular and quasi-offense cases in the city from January to September 2025.
1 mins
October 22, 2025
The Freeman
Internet services cut for hours by Amazon cloud outage
Popular internet services ranging from streaming platforms to messaging services to banking were offline for hours Monday due to an outage in Amazon’s crucial cloud network, illustrating the extent to which internet life depends on the tech titan.
2 mins
October 22, 2025
The Freeman
Gov't, private sectors join forces for quake recovery
Government agencies and private sector organizations have joined forces to help communities and businesses in northern Cebu recover from the devastation caused by the September 30, 2025’s 6.9 magnitude earthquake in northern Cebu.
1 mins
October 22, 2025
The Freeman
Indonesia to repatriate British grandmother on death row
Indonesia will sign an agreement on Tuesday to repatriate two British nationals, including a grandmother languishing on death row for drug-related crimes, an Indonesian government source told AFP.
2 mins
October 22, 2025
The Freeman
AFTER DEVELOPER FAILS TO BUILD HOMES
Group asks Gov for help
2 mins
October 22, 2025
The Freeman
Presidents and Family History Month
Every October is celebrated as Family History Month, a time dedicated to honoring the art of tracing and preserving one’s lineage.
2 mins
October 22, 2025
The Freeman
BBM weaponizing the ombudsman?
If the nation takes the words of such trapos as Senators Imee Marcos, Bato de la Rosa, or Rodante Marcoleta, we would be led to believe the appointment of Jesus Crispin Remulla as ombudsman would foment political instability.
3 mins
October 22, 2025

The Freeman
BoP surplus narrows to $82-M in September
The Philippines' balance of payments (BoP) surplus sharply narrowed year on year in September, the central bank reported on Monday.
2 mins
October 22, 2025
The Freeman
Netters from quake-hit Bogo City shine in 24th Gullas Tennis Cup
NEVER LOSING SIGHT OF THEIR DREAMS
1 mins
October 22, 2025

The Freeman
Friendship is the foundation of Cebu's new P-pop group ARZA
This December, a new girl group is set to represent Cebu in the P-pop scene: ARZA, a play on the Cebuano word “alsa”, which means “to rise.”
4 mins
October 22, 2025
Listen
Translate
Change font size