Marcos Urges Speedy Budget Approval

President Marcos yesterday called on lawmakers to swiftly approve the proposed P6.793-trillion budget for next year, an outlay that he said reflects a shift toward more investments in programs benefiting the people.

- Alexis Romero

In his budget message, Marcos said the Philippines is on track with its agenda for prosperity and has recovered from the pandemic.

"Hence, I urge the honorable members of Congress to swiftly enact this budget," he added.

The proposed 2026 national budget is 7.4 percent higher than the P6.326-trillion outlay for this year and equivalent to 22 percent of the Philippines' gross domestic product (GDP). It is anchored on the theme "Agenda for prosperity: Nurturing future-ready generations to achieve the full potential of the nation."

Marcos said the administration would pursue the prosperity agenda, saying it has proven to be effective in achieving economic recovery following the pandemic.

In the same message, Marcos called for reforms aimed at promoting transparency in the budget process citing the need to pass the Right to Information bill and the Progressive Budgeting for Better and Modernized Governance bill.

Assumptions

Next year's budget is based on the assumption that the Philippine economy will grow by 5.5 to 6.5 percent this year.