Latest news with #AgendaforProsperity
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GMA Network
6 days ago
- Business
- GMA Network
Marcos urges Congress to 'swiftly enact' proposed 2026 budget
President Ferdinand ''Bongbong'' Marcos Jr. on Wednesday urged members of Congress who will deliberate the proposed 2026 national budget to "swiftly enact" it. ''I urge the honorable members of Congress to swiftly enact this budget. Let us work together to realize the full potential of our nation, nurture future-ready generations and fulfill our dream of a Bagong Pilipinas,'' Marcos said in the budget message. Marcos said the Philippines is on track with its "Agenda for Prosperity" and poised to be a leader among nations, especially in the Asia Pacific region. ''However, while we have recovered from the pandemic, we recognize that there is still much to rebuild, and there is still much that can be achieved. We must not lose sight of our collective responsibility to ensure a brighter future for our people, especially the next generations,'' the President said. The Department of Budget and Management (DBM) earlier submitted the P6.793-trillion National Expenditure Program (NEP) to the House of Representatives. The legislative body, holding the 'power of the purse,' is set to start deliberating on the proposed budget allocations set by the executive branch for 2026 after the submission of the DBM. Marcos said the priority recipients of the proposed FY 2026 National Budget are as follows: Education (P928.5 billion); Public Works (P881.3 billion); Health (P320.5 billion); Defense (P299.3 billion); Interior and Local Government (P287.5 billion); Agriculture (P239.2 billion); Social Welfare (P227.0 billion); Transportation (P197.3 billion); Judiciary (P67.9 billion); and Labor and Employment (P55.2 billion). The proposed national budget remains committed to fulfilling the objectives of the Philippine Development Plan (PDP) 2023-2028, anchored on the following pillars: (1) Developing and Protecting the Capabilities of Individuals and Families; (2) Transforming Production Sectors to Generate More Quality Jobs and Competitive Products; and (3) Creating an Enabling Environment. —VAL, GMA Integrated News
GMA Network
12-08-2025
- Business
- GMA Network
DBM presents P6.793-trillion national expenditure program to Marcos
The Department of Budget and Management (DBM) on Tuesday formally presented the 2026 National Expenditure Program (NEP) to President Ferdinand ''Bongbong'' Marcos Jr. The ceremonial presentation took place in Malacañang Palace. Executive Secretary Lucas Bersamin, DBM Secretary Amenah Pangandaman, and Presidential Legislative Liaison Office (PLLO) head Adrian Bersamin were present during the event. In July, Marcos approved the proposed P6.793 trillion NEP for Fiscal Year 2026. With the theme, 'Agenda for Prosperity: Nurturing Future-Ready Generations to Achieve the Full Potential of the Nation,' the proposed 2026 National Budget will build on the solid foundations laid over the past three years of the administration. The budget will prioritize the essentials that uphold the fundamental rights of our people: the right to learn through quality and accessible education; the right to be healthy through strengthened healthcare systems and services; the right to live with dignity through expanded social protection programs; and the right to food security by ensuring a stable, sufficient, and affordable food supply. –NB, GMA Integrated News
Filipino Times
15-07-2025
- Business
- Filipino Times
Marcos Approves Proposed ₱6.793 Trillion National Budget for 2026
President Ferdinand Marcos Jr. has approved the proposed ₱6.793 trillion national budget for fiscal year 2026. According to Malacañang, the proposed spending plan highlights the administration's focus on education and improving the lives of Filipinos. During a Cabinet meeting at the Palace, the President emphasized that the national budget must promote both economic growth and better quality of life for all citizens. The Department of Budget and Management (DBM), led by Secretary Amenah Pangandaman, submitted the 2026 National Expenditure Program (NEP), which is 7.4% higher than the previous year's budget and accounts for 22% of the country's GDP. The budget theme, 'Agenda for Prosperity: Nurturing Future-Ready Generations to Achieve the Full Potential of the Nation,' centers on social services—especially education—and aligns with the President's vision of a 'Bagong Pilipinas.' Of the proposed budget, the largest portion goes to Maintenance and Other Operating Expenses (MOOE) at ₱2.639 trillion, followed by Personnel Services at ₱1.908 trillion, and Capital Outlays at ₱1.296 trillion. Financial expenses are pegged at ₱950 billion. National Government Agencies will receive ₱4.305 trillion (63.4%), Local Government Units ₱1.35 trillion, and Government-Owned or -Controlled Corporations ₱188.3 billion. The DBM noted that it had to reduce agency requests amounting to over ₱10 trillion due to limited fiscal space and the government's fiscal consolidation efforts. The 2026 NEP will be submitted to Congress within 30 days of the start of the regular session.
GMA Network
23-05-2025
- Business
- GMA Network
Marcos economic team intact as secretaries, special adviser retained
President Ferdinand Marcos Jr. has retained the composition of his administration's economic team following his call for his Cabinet members to file courtesy resignations. At a news conference on Friday, Executive Secretary Lucas Bersamin said the President chose "after careful evaluation" to retain Trade Secretary Ma. Cristina A. Roque, Finance Secretary Ralph G. Recto, Economic Planning and Development Secretary Arsenio M. Balisacan, Budget Secretary Amenah F. Pangandaman, and Special Assistant to the President for Investment and Economic Affairs Frederick Go. 'Itong lima na ito ay magpapatuloy sa kanilang panunungkulan, paninilbihan sa taumbayan at makakaasa kayo na sila naman ay sinsero o dedicated sa kanilang sinumpaang katungkulan,' Bersamin said. (These five will continue to serve the people and you can be assured that they are sincere or dedicated to their sworn duties.) Following Marcos's call for his Cabinet secretaries to submit their courtesy resignations after his pronouncement that the results of Eleksyon 2025 showed that the people are "tired of politics and they are disappointed with the government,' members of the economic team have immediately complied. In a statement, Pangandaman, who chairs the Cabinet-level macroeconomic and fiscal-targeting Development Budget Coordination Committee (DBCC), said she was 'tremendously grateful to President Ferdinand R. Marcos Jr. for the steadfast trust, support, and confidence he has bestowed not only upon me but upon the entire economic team.' 'This has only reaffirmed my own commitment to public service and reignited my determination to work even harder for our nation and our people," Pangandaman said. "And certainly the entire economic team is one in reinforcing our shared vision for an even more prosperous economy. I would also thank the many business groups, public service institutions, CSOs, and individuals who sent me messages of support,' she added. 'We have always been one with the President in working towards our Agenda for Prosperity while pursuing an open government that is transparent and accountable," Pangandaman said. With the boost of confidence from the President and as the economic managers review the Medium Term Fiscal Program and as the Department of Budget and Management enters budget deliberations, Pangandaman said she was renewing her commitment to "an economic transformation that is inclusive and sustainable, fulfilling the needs and aspirations of the Filipino people, including the next generations." Marcos' chief economic manager, Recto, also thanked the President. 'I thank the President for his continued trust. More than a vote of confidence, I take this as a marching order to push harder and deliver results faster, and thus we will also do our own recalibration within the department," Recto said. Recto said the DOF would not stop in ensuring that every Filipino family would feel the effects of progress. Balisacan also thanked Marcos "for his continued trust and confidence and assure him of the Department of Economy, Planning, and Development's continued efforts, together with members of the Economic Team, to steer the economy to a prosperous, inclusive, and resilient future where every Filipino benefits from our nation's progress." Go and Roque have yet to issue their statement about their retention in the Marcos administration's Cabinet. The Marcos administration's economic team is lookig to bring down the poverty rate to 9% by 2028. It also aims to reduce the country's debt-to-gross domestic product (GDP) ratio to below 60% by 2028. It also hopes to achieve an economic growth rate of 6% to 8% between 2025 and 2028. –NB, GMA Integrated News
