Philippines sees 9.7% increase in budget for ’25

Philippine President Ferdinand Romualdez Marcos signed the 6.33 trillion pesos ($109.3 billion) national budget for 2025 into law on Monday, marking a 9.7 per cent increase from the 2024 budget.

During the signing ceremony at the presidential palace, Marcos highlighted the budget as a symbol of his government’s dedication to converting economic progress into sustainable growth and improving the lives of Filipinos.

“It is designed not just to address our present needs but to sustain growth and uplift the lives of generations that are yet to come,” Marcos said.

Marcos emphasised that the 2025 national budget prioritses social services, education, health, infrastructure development, and agricultural support.

In December, the government predicted a 6-6.5 per cent GDP growth for 2024 in a highly uncertain economic climate. The GDP target for 2025 was also adjusted to 6-8 per cent.

Attribution: Xinhua

Subediting: Y.Yasser