President Ferdinand "Bongbong" Marcos, Jr. has greenlit a robust P6.352-trillion national budget for 2025, aiming to fortify the nation against economic challenges while prioritizing job creation, healthcare enhancement, and infrastructure development.
This move, finalized during a recent Cabinet meeting at Malacañang, marks a 10.1-percent increase over this year's budget allocation of P5.768 trillion.
"Investing in what matters most - creating jobs, strengthening healthcare, and expanding infrastructure - is our priority with the approved 2025 budget," Marcos affirmed in an Instagram post on Tuesday evening.
The budget highlights substantial allocations for education, health, public works, and defense sectors, underscoring commitments to sustainable growth and poverty reduction.
Taming inflation
The announcement comes amid a backdrop of escalating inflation, which reached a six-month high in May, driven by rising utility and transport costs.
National Statistician Dennis Mapa reported that headline inflation accelerated to 3.9 percent in May from 3.8 percent in April, the highest since November 2023’s 4.1 percent reading.
Speaker Martin Romualdez emphasized that the House of Representatives will prioritize deliberations on the 2025 budget upon reconvening on July 22, coinciding with President Marcos’ third State of the Nation Address (SONA).
"We will work doubly hard to pass the General Appropriations Bill before the end of September 2024, ensuring sufficient funding for education, agriculture, infrastructure, and defense modernization," Romualdez stated.
The comprehensive budgetary strategy, coupled with impending leadership changes in key sectors such as education, underscores Marcos’ administration’s commitment to driving inclusive economic growth and resilience in the face of ongoing economic challenges.
Photo Courtesy: Presidential Communications Office
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