DEPARTMENT of Budget and Management (DBM) Secretary and Development Budget Coordination Committee (DBCC) Chairperson Amenah F. Pangandaman announced at the press briefing following the 188th meeting of the DBCC that the proposed national budget for FY 2025 is set at Php 6.352 trillion.
“This is equivalent to 22.0 percent of GDP and is 10.1 percent higher than the FY 2024 budget of Php 5.768 trillion,” Secretary Pangandaman said.
Anchored on the theme, “Agenda for Prosperity: Fulfilling the Needs and Aspirations of the Filipino People,” the proposed FY 2025 National Budget will build on the gains from the first two years of the administration of President Ferdinand R. Marcos Jr. and continue to usher in economic and social transformation for a prosperous, inclusive, and resilient society.
In line with the Philippine Development Plan (PDP) 2023-2028, the proposed budget aims to develop and protect the capabilities of individuals and families, transform production sectors to generate more quality jobs and produce competitive products, and foster an enabling environment encompassing institutions, physical and natural environment.
In evaluating the agencies’ budget proposals for FY 2025, DBM considered several factors such as the availability of fiscal space, implementation-readiness of programs and projects, agency absorptive capacity, and alignment with expenditure directions.
The programs under the Three (3)-Year Rolling Infrastructure Program (TRIP), Information Systems Strategic Plan (ISSP), and Program Convergence Budgeting (PCB) were also prioritized.
The 188th DBCC Meeting was also attended by National Economic and Development Authority Secretary Arsenio M. Balisacan, Special Assistant to the President for Investment and Economic Affairs Secretary Frederick D. Go, Bangko Sentral ng Pilipinas Deputy Governor Francisco G. Dakila Jr., and Department of Finance Undersecretary Domini SD Velasquez.
About the Author
