The Department of Budget and Management (DBM) has called on ministries and agencies to prepare their 2026 budget proposals.
Budget Secretary Amenah F. Pangandaman released the National Budget Memorandum No. 153, marking the preparatory stage for the formulation of the National Expenditure Program and setting out the priorities for next year.
“The proposed national budget and its priorities will be anchored on the national government’s commitment to the achievement of the PDP (Philippine Development Plan) 2023-2028, which is aligned with the goals of the 2030 Agenda for Sustainable Development and the AmBisyon Natin 2040.” she said.
AmBisyon Natin 2040 refers to the “collective long-term vision and aspirations of the Filipino people” for the next 25 years, with the goal of achieving a middle-class society with per capita income expected to at least triple.
“With only a few years left until the 2030 Agenda, there is a need to accelerate progress or reverse negative trends to achieve the global goals of establishing a transformative vision for economic, social and environmental sustainability ,” added Ms. Pangandaman.
She said the budget should seek to contain the lingering effects of inflation, such as high food and fuel prices, and safeguard the Philippines’ purchasing power.
It should also aim to support infrastructure investments and continue the government’s efforts to digitalize “public financial management to increase bureaucratic efficiency and promote transparent service delivery.”
The DBM secretary said the spending plan should promote a “more inclusive” and “balanced” development landscape by “striking a balance” between the geographical needs of urban areas in the regions.
“But fully aware of the impact of the country’s debt burden and the competing demands of government agencies, the 2026 budget allocation will be optimized,” Ms. Pangandaman said.
Data from the Bureau of the Treasury shows that outstanding debt reached a record high of $16.02 trillion at the end of October last year.
In its medium-term budget, the Development Budget Coordination Committee (DBCC) set a spending target of P6.54 trillion by 2026. It also projected that revenues next year will reach P5.063 trillion or 16.2% of gross domestic product (GDP). .
The DBCC also expects GDP to grow by 6 to 8% from 2026 to 2028. — Aubrey Rose A. Inosante