By Rodolfo Dacleson II
(December 30, 2024) – The National Economic and Development Authority (NEDA) on Monday touted the signing of next year’s national budget, calling it essential to achieving the administration’s Philippines Development Plan (PDP).
Pres. Bongbong Marcos signed the 2025 General Appropriations Act (GAA) worth P6.326 trillion, a slight decrease from the proposed P6.352 trillion of the bicameral committee. He vetoed several line items worth P194 billion.
NEDA secretary Arsenio Balisacan said the new GAA will help the administration achieve PDP’s targets for human capital development and poverty reduction.
“The budget prioritizes strategic investments in social services with substantial allocations to education, health and social welfare programs and infrastructure projects to boost growth and inclusion,” said Balisacan in a report from the Philippine News Agency.
Balisacan furthered that Marcos demonstrated “fiscal discipline” in exercising his veto power.
“This decisive action demonstrates the administration’s commitment to our fiscal program by ensuring that planned spending remains within the target deficit ceiling,” added Balisacan.
Progressive groups, however, said Marcos’ vetoing was merely “pretentious,” with the P10 billion budget cut in the Department of Education and the zero subsidy for the Philippine Health Insurance Corp. upheld.
Marcos also kept the P26 billion budget of the Ayuda sa Kapos ang Kita Program, a pet project of his cousin, House Speaker Martin Romualdez. It was heavily criticized for being an alleged source of funds for Marcos’ allies for the 2025 midterm elections.
ALSO READ: ‘Shame on you’: Romualdez slammed after AKAP budget restored amid PhilHealth’s zero subsidy
Former Department of Finance undersecretary Cielo Magno warned that the “bloated” national budget may cause adverse impacts to the country.
ALSO READ: Amid ‘bloated’ 2025 national budget, DOF urged to improve fiscal management
Next year’s national budget is 10.1% higher than this year’s allocation of P5.768 trillion.
“We assure our fellow Filipinos that we will sustain our gains and accelerate our efforts in areas where we need to catch up to meet our development targets,” added Balisacan.
(With reports from Marianne Enriquez, News5)
(PM)
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