Marcos OKs proposed P6.793T nat'l budget for 2026

President Ferdinand ''Bongbong'' Marcos Jr. on Tuesday approved the proposed P6.793 trillion National Expenditure Program (NEP) for Fiscal Year 2026.

This was announced by Palace Press Officer Undersecretary Atty. Claire Castro during a press briefing.

The Department of Budget and Management said that for next year, the expenditure priorities of the administration are anchored on the Philippine Development Plan (PDP) 2023–2028.

DBM Secretary Amenah Pangandaman said the President himself sat down with the different agencies to ensure that all the priorities are aligned towards the common goal of achieving the vision of a Bagong Pilipinas.

“So, we are very grateful to the President for his leadership and active role in the crafting of this budget,'' she said. 

She said the proposed budget was equivalent to 22.0 percent of GDP and higher by 7.4% from the fiscal year 2025 budget of P6.326 trillion.

Pangandaman said that the DBM had to trim down requests for budget proposals that reached P10.101 trillion due to limited fiscal space and the fiscal consolidation strategy, which targets gradually reducing the national government’s deficit from 5.5% of GDP in 2025 to 4.3% by 2028.

By expense class, the lion’s share of the proposed budget will go to Maintenance and Other Operating Expenses (MOOE) at P2.639 trillion to fund the implementation of government programs and projects, the DBM said.

This is followed by Personnel Services (PS) expenditures with P1.908 trillion, cornering 28.1% of the total proposed budget and reflecting a 16.8% year-on-year growth. 

The DBM said this would fund the salaries and other PS benefits of government workers, including the requirements for creation and filling of positions.

Meanwhile, the Capital Outlays will be allocated P1.296 trillion to fund priority infrastructure projects, while Financial Expenses will be provided P950 billion.

National government agencies will receive P4.305 trillion, or 63.4%, while local government units will receive nearly 20% at P1.350 trillion, excluding locally implemented projects funded through national agencies. 

The DBM said that Government-Owned or -Controlled Corporations (GOCCs) will be allocated P188.3 billion in the form of subsidy or equity support, as well as net lending assistance.

The NEP will be submitted by the President to Congress within 30 days after the opening of the regular session. —VAL, GMA Integrated News