Proposed 2025 budget hits P6.35 trillion | ABS-CBN
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Proposed 2025 budget hits P6.35 trillion
Proposed 2025 budget hits P6.35 trillion
At the Development Budget Coordinating Committee (DBCC) press conference, Budget Secretary Amenah Pangandaman said the proposed budget is 22 percent of the country’s Gross Domestic Product (GDP) and is 10.1 percent higher than the 2024 budget of P5.767 trillion
At the Development Budget Coordinating Committee (DBCC) press conference, Budget Secretary Amenah Pangandaman said the proposed budget is 22 percent of the country’s Gross Domestic Product (GDP) and is 10.1 percent higher than the 2024 budget of P5.767 trillion
“Social sector will definitely again get a big chunk of the budget. That’s education, health, social protection, agriculture will remain to be on top because we will still increase our investments in agriculture to ensure food security, infrastructure development, digitalization, and climate projects,” said Pangandaman.
“Social sector will definitely again get a big chunk of the budget. That’s education, health, social protection, agriculture will remain to be on top because we will still increase our investments in agriculture to ensure food security, infrastructure development, digitalization, and climate projects,” said Pangandaman.
When asked why the proposed budget is 10.1 percent bigger that existing budget, the budget chief attributed this to the midterm elections next year, as well as a bigger National Tax Allotment and the new law on increasing teachers allowances.
When asked why the proposed budget is 10.1 percent bigger that existing budget, the budget chief attributed this to the midterm elections next year, as well as a bigger National Tax Allotment and the new law on increasing teachers allowances.
“National Tax allotment medyo malaki increase for next year… There will be an election, so we have to fund that. We increased the allowance of those who will help in the elections,” she said.
“National Tax allotment medyo malaki increase for next year… There will be an election, so we have to fund that. We increased the allowance of those who will help in the elections,” she said.
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The proposed 2025 budget will be presented to the cabinet on July 2 and presented to Congress on July 29 or a week after the president’s State of the Nation Address.
The proposed 2025 budget will be presented to the cabinet on July 2 and presented to Congress on July 29 or a week after the president’s State of the Nation Address.
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