The PHP6.793-trillion 2026 national budget, despite some vetoed items as the government tightened controls on discretionary spending, is aimed towards ensuring sustained growth of the domestic economy, an economic official said Monday.
Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio Balisacan, in a statement Monday, said this year’s national budget, which President Ferdinand R. Marcos Jr. signed earlier in the day, is a timely milestone that “removes uncertainty and clearly affirms our collective resolve to advance the country’s development agenda.”
“As has been emphasized, the 2026 National Budget is more than a financial document. It is a strategic roadmap for safeguarding our economic recovery and sustaining progress toward our long-term development goals under the Philippine Development Plan 2023-2028,” he said.
Balisacan said that “despite necessary realignments, the approved budget remains fully capable of delivering our economic and social objectives” since it “prioritizes strategic investments in education, health, agriculture, social protection, and job creation—sectors that are fundamental to building a more inclusive, competitive, and resilient Philippine economy.”
“While the budget supports the updated GDP (gross domestic product) growth assumptions of 5 to 6 percent —which reflect both global and domestic realities and challenges— this year’s growth outlook, though slightly scaled down from earlier targets, is expected to be more inclusive.”
Balisacan said this year’s budget “is deliberately structured to enhance human development, strengthen food security, and expand job creation,” that will “help ensure that growth is not only robust but also widely shared.”
“Greater inclusivity, in turn, lays the foundation for stronger and more sustainable economic performance in the medium to long term,” he said, citing that it “reinforces our commitment to transparency, accountability, and prudent fiscal stewardship.”
“Through stronger program convergence and better coordination across agencies, we are ensuring that every peso delivers measurable impact and tangible improvements in people’s lives.” (PNA)
