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Palace propose P6.352 T 2025 budget
By Nidz Godino
"Social sector will definitely, again, get big chunk of budget that's education, health and social protection," Budget Secretary and Development Budget Coordination Committee (DBCC) chair Amenah Pangandaman said Marcos administration is proposing another record budget of P6.352 trillion for 2025 as government moves to finance its priority programs and achieve its macroeconomic targets.
At briefing following 188th Cabinet-level DBCC Pangandaman said proposed National Expenditure Program for 2025 is P6.352 trillion.
Record budget level proposed for next year is 10.1 percent above this year's allocation of P5.768 trillion.
"Agriculture will also remain to be top priority as we increase our investments for food security…we also have infrastructure development and digitalization as well as climate projects," she said.
P6.352 trillion is 2.45 percent higher than previous proposal of P6.2 trillion last April. Next year's budget is equivalent to 22 percent of the economy.
Pangandaman explained increase has taken into consideration higher budget allocation for local government units (LGUs) up by almost 20 percent to P1.03 trillion.
National tax allotment (NTA) for LGUs for 2025 will be up 18.7 percent to P1.03 trillion from this year's level of P871.38 billion.
LGUs will get higher share as NTA is based on 2022 revenue collection, which improved as economy significantly bounced back from two-year slump at the height of COVID pandemic.
"Next year is also election year so we have to fund that, we increased allowance for those who will help in the election," Pangandaman said.
She stressed that there is also expansion in conditional cash transfer program of the government, as well as higher allowance of P10,000 for teachers.
She noted economic team is set to present NEP to Cabinet on July 2 and submit it to Congress on July 29, a week after the President's State of the Nation Address. Process will be significantly ahead of schedule as constitutional deadline for submission of budget is 30 days after SONA.
Furthermore, Pangandaman emphasized budget will build on gains from first two years of Marcos administration and continue to usher in economic and social transformation for prosperous, inclusive and resilient society.
In line with Philippine Development Plan, proposed budget also aims to protect capabilities of individuals and families and transform production sectors to generate more quality jobs and produce competitive products.
It also targets to foster enabling environment encompassing institutions, physical and natural environments.
In evaluating agencies' budget proposals for 2025, Pangandaman said Department of Budget and Management considered several factors such as availability of fiscal space, implementation-readiness of programs and projects, agency absorptive capacity, and alignment with expenditure directions.
Administration's economic team, meanwhile, was less optimistic on inflation trend in the country, hiking its assumption to three percent to four percent range from previous target of two to four percent in April. Inflation quickened to six-month high of 3.9 percent in May, bringing five-month average to 3.5 percent.
Trend is not expected to significantly impact overall growth, however, according to the economic team.
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