The Marcos administration’s economic managers have set a more than P6-trillion budget program for the government’s spending initiatives next year. The proposed budget is equivalent to 21.4% of GDP and 7.5% higher than this year’s budget.
The Marcos administration’s economic managers have set a more than P6-trillion budget program for the government’s spending initiatives next year. At a Palace briefing on Thursday, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan announced that the Development Budget Coordination Committee (DBCC) “proposes a national budget of P6.2 trillion for Fiscal Year 2025.” Next year’s proposed national expenditure budget is equivalent to 21.
4% of gross domestic product (GDP). It is also 7.5% higher than this year’s budget of P5.768 trillion. The DBCC, chaired by the Budget chief, is an interagency body tasked to review and approve macroeconomic targets, revenue projects, borrowing levels, and budget and expenditure ceilings. It is also composed of the secretaries of the NEDA and the Department of Finance (DOF), as well as the governor of the Bangko Sentral ng Pilipinas (BSP
Marcos Administration Budget Spending Initiatives GDP Government
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