Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

Recto says Palace now reviewing 2026 national budget

HANDOUT COURTESY OF OFFICE OF SEN. GATCHALIAN

By Chloe Mari A. Hufana, Reporter

The Philippine executive branch is now reviewing the 2026 national budget, a process that could temporarily place the government under a reenacted budget in the first few days of January, Executive Secretary Ralph G. Recto said.

President Ferdinand R. Marcos, Jr. and his team are scrutinizing the 2026 General Appropriations Act (GAA) to account for changes made by lawmakers from the originally submitted National Expenditure Program (NEP), Mr. Recto said.

“We will ensure that the 2026 GAA will satisfy not only the legal and technical requirements but, more importantly, the needs of the Filipino people,” he added in a statement, noting the review will take about a week.

Mr. Marcos is expected to sign the spending plan on Jan. 5, forcing the country to briefly operate on a reenacted budget in the first few days of 2026.

The 2026 national budget has been subjected to more scrutiny following allegations of corruption-tainted insertions in this year’s budget.

As the country probes a graft scandal, Mr. Marcos had ordered Congress to be more transparent in crafting the national budget. Among these measures included the upload of budget documents online, a livestream of bicameral proceedings, and the involvement of civil society in budget deliberations.

“The public is assured that a brief period under a reenacted budget will not disrupt government operations,” Mr. Recto said. “This deliberate review safeguards fiscal discipline and ensures that taxpayers’ hard-earned money is spent wisely and translated into benefits for the Filipino people.”

Congress ratified the P6.793-trillion 2026 national budget, formally approving the bicameral conference committee report and concluding what had been a contentious legislative process, on Monday.

Lawmakers moved quickly in both chambers, with the Senate and House of Representatives clearing the measure largely by voice vote.

Senate Finance Committee Chair Sherwin T. Gatchalian said the spending plan prioritizes education, health, and agriculture, with increased allocations aimed at expanding classroom construction, school-feeding programs, healthcare services and support for farmers.

Hansley A. Juliano, a political science lecturer at the Ateneo de Manila University, said the budget process takes time and the administration is pushing for swift action, but stressed that the law and the Constitution are clear in giving the President only 30 days to act on a bill before it automatically lapses into law.

“The speed they are working with here may be less about review and more catching up with public perception,” he said via Facebook Messenger.

“The credibility of Mr. Marcos in this is already where it is at, it is already not in a good place. It either stays there, or it goes up depending on whether services are delivered, and the public is satisfied by his upcoming responses to investigation.”

    You May Also Like

    Finance

    An aerospace engineer who challenged her employer’s transgender toilet policy has lost her discrimination case, after an employment tribunal ruled that Leonardo UK’s approach...

    Stock Markets

    CENTURY-PROPERTIES.COM LISTED Century Properties Group, Inc. (CPG) said it has sold 99% of its units in its P1.6-billion Barbados Tower, its third high-rise building...

    Stock Markets

    DEPDev says 3 flagship infrastructure projects completed by yearend – BusinessWorld Online                                    ...

    Stock Markets

    Panel Discussion 2 (L-R): BusinessWorld Corporate Editor Arjay L. Balinbin (moderator), Cong. Brian Poe Llamanzares of Global AI Council Philippines, Marco de la Rosa...

    Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.