The administration’s Agenda for Prosperity continues as the President’s budget remains on track for timely submission to Congress.

 

Department of Budget and Management (DBM) Secretary Amenah "Mina" F. Pangandaman presented to President Ferdinand “Bongbong” R. Marcos Jr. and members of the cabinet today, 02 July 2024, the proposed national budget for fiscal year (FY) 2025 pegged at P6.352 trillion.

 

With the theme, "Agenda for Prosperity: Fulfilling the Needs and Aspirations of the Filipino People," the proposed FY 2025 national budget seeks to continue fostering economic and social transformation for a prosperous, inclusive, and resilient future under the President's vision of a Bagong Pilipinas.

 

"The proposed 2025 national budget fulfills the needs and aspirations of the Filipino people and is consistent with the Philippine Development Plan (PDP) 2023-2028. We have crafted this carefully and meticulously to ensure that we stay on track with our economic growth targets while ensuring no one is left behind," Secretary Mina said.

 

The proposed budget for next year is anchored on three pillars of the PDP, such as Pillar 1: Develop and Protect the Capabilities of Individuals and Families, Pillar 2: Transform Production Sectors to Generate More Quality Jobs and Competitive Products, and Pillar 3: Create an Enabling Environment.

 

“I would like to thank the esteemed members of the cabinet for working closely with the DBM to develop the budget proposals that focus on the right priorities. Guided by the President’s socioeconomic agenda, the proposed 2025 national budget reflects our unwavering commitment to promoting the sound, efficient, and effective management and utilization of government resources toward the achievement of our national socioeconomic development goals,” Sec. Mina stated.

 

In her presentation, the Budget Secretary also mentioned that key factors were considered in evaluating the FY 2025 budget proposals, including the availability of fiscal space; implementation-readiness of programs, activities, and projects; agency’s absorptive capacity; alignment with Budget Priorities Framework and PDP 2023-2028; Public Investment Program/Three-Year Infrastructure Program; Information Systems Strategic Plan; and Program Convergence.

 

The proposed national budget for the upcoming year is 10.1 percent higher than the FY 2024 General Appropriations Act (GAA) at PhP 5.768 trillion. This is likewise equivalent to 22.0 percent of GDP, as determined during the Development Budget Coordination Committee (DBCC) meeting held last Thursday, 27 June 2024.

 

Following mandate specified by the constitution, the Education sector will continue to get the largest percentage of the national budget.

 

On the other hand, the Health sector will likewise receive significant budget increases to boost the operations of Department of Health (DOH) hospitals in Metro Manila, DOH regional hospitals, and other health facilities.

 

The National Tax Allotment of LGUs and annual block grant of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) are also anticipated to get a boost.

 

The President is expected to present the proposed budget to Congress within 30 days of delivery of his State of the Nation Address (SONA). Meanwhile, the Budget Secretary targets to submit to Congress the proposed budget within one week from the President's SONA.

 

Sec. Pangandaman, as chair of the Development Budget Coordination Committee, hopes to continue the high growth trajectory of the Philippine economy to attain the PBBM administration's economic target and achieve upper middle-income status and single-digit poverty levels by 2028.