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Advocates Philippines
The Road To Prosperity: A Closer Look At The 2025 National Budget
Photo credit: Congress PH
In a ceremonial event held at the Romualdez Hall of the House of Representatives on July 29, 2024, the Department of Budget and Management (DBM), led by Secretary Amenah F. Pangandaman, handed over the Fiscal Year (FY) 2025 National Expenditure Program (NEP) to Congress. This marks a significant step in the legislative process for the upcoming fiscal year.
Secretary Pangandaman, representing President Ferdinand R. Marcos Jr., proudly presented the proposed budget, themed “Agenda for Prosperity: Fulfilling the Needs and Aspirations of the Filipino People.” The budget totals P6.352 trillion, making up 22 percent of the country’s GDP, and reflects a 10.1% increase from last year’s P5.768 trillion.
"On behalf of President Ferdinand R. Marcos Jr., it is my honor and privilege to transmit to Congress—for its perusal, deliberation, and approval—the Fiscal Year (FY) 2025 National Expenditure Program (NEP)," Secretary Pangandaman said during the turn-over ceremony.
She emphasized the importance of sustaining the momentum towards prosperity, aiming for a single-digit poverty level and an upper-middle-income economy. "Together, let us fulfill the needs and aspirations of the Filipino people to achieve a Bagong Pilipinas for our citizens and future generations," Pangandaman expressed.
House Speaker Martin Romualdez assured that Congress would carefully scrutinize and ensure the judicious allocation and spending of the budget. "As we receive this budget document today, we recognize the collective responsibility bestowed upon us as legislators to scrutinize, deliberate, and ensure that every peso is judiciously allocated and spent," he stated.
The proposed budget supports the PBBM Administration’s goal of economic and social transformation, anchored on the three pillars of the Philippine Development Plan (PDP) 2023-2028:
1. Develop and Protect the Capabilities of Individuals and Families: Initiatives here include promoting human and social development, reducing vulnerabilities, protecting purchasing power, and increasing income-earning abilities.
2. Transform Production Sectors to Generate More Quality Jobs and Competitive Products: This involves modernizing agriculture, revitalizing industry, enhancing services, and advancing research and development.
3. Create an Enabling Environment: This pillar focuses on good governance, improving bureaucratic efficiency, ensuring peace and security, expanding infrastructure, ensuring macroeconomic stability, and accelerating climate action.
The ceremony was attended by several key government officials, including Senior Deputy Speaker Aurelio Gonzales Jr., Majority Leader Manuel Jose Dalipe, Minority Leader Marcelino Libanan, and House Committee on Appropriations Chairperson Elizaldy Co, among others. DBM senior officials were also present, showing the united front of the government in pushing for this ambitious budget.
Secretary Pangandaman, representing President Ferdinand R. Marcos Jr., proudly presented the proposed budget, themed “Agenda for Prosperity: Fulfilling the Needs and Aspirations of the Filipino People.” The budget totals P6.352 trillion, making up 22 percent of the country’s GDP, and reflects a 10.1% increase from last year’s P5.768 trillion.
"On behalf of President Ferdinand R. Marcos Jr., it is my honor and privilege to transmit to Congress—for its perusal, deliberation, and approval—the Fiscal Year (FY) 2025 National Expenditure Program (NEP)," Secretary Pangandaman said during the turn-over ceremony.
She emphasized the importance of sustaining the momentum towards prosperity, aiming for a single-digit poverty level and an upper-middle-income economy. "Together, let us fulfill the needs and aspirations of the Filipino people to achieve a Bagong Pilipinas for our citizens and future generations," Pangandaman expressed.
House Speaker Martin Romualdez assured that Congress would carefully scrutinize and ensure the judicious allocation and spending of the budget. "As we receive this budget document today, we recognize the collective responsibility bestowed upon us as legislators to scrutinize, deliberate, and ensure that every peso is judiciously allocated and spent," he stated.
The proposed budget supports the PBBM Administration’s goal of economic and social transformation, anchored on the three pillars of the Philippine Development Plan (PDP) 2023-2028:
1. Develop and Protect the Capabilities of Individuals and Families: Initiatives here include promoting human and social development, reducing vulnerabilities, protecting purchasing power, and increasing income-earning abilities.
2. Transform Production Sectors to Generate More Quality Jobs and Competitive Products: This involves modernizing agriculture, revitalizing industry, enhancing services, and advancing research and development.
3. Create an Enabling Environment: This pillar focuses on good governance, improving bureaucratic efficiency, ensuring peace and security, expanding infrastructure, ensuring macroeconomic stability, and accelerating climate action.
The ceremony was attended by several key government officials, including Senior Deputy Speaker Aurelio Gonzales Jr., Majority Leader Manuel Jose Dalipe, Minority Leader Marcelino Libanan, and House Committee on Appropriations Chairperson Elizaldy Co, among others. DBM senior officials were also present, showing the united front of the government in pushing for this ambitious budget.
Jul 30, 2024
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