Marcos' economic team holds press briefing on 2025 national budget

Short Summary:

The press briefing covers the signing of the ₱6.326 trillion 2025 Philippine national budget. Key discussion points include the budget's alignment with the administration's socioeconomic agenda, the president's vetoes of certain line items (particularly ₱26 billion from the Department of Public Works and Highways), and the conditional implementation of several programs. The briefing highlights the government's commitment to fiscal responsibility while prioritizing investments in education, health, and infrastructure. The process of budget creation, involving the executive branch's proposal and the legislature's amendments, and the president's subsequent review and veto power, is explained. The implications include potential legal challenges and the need for inter-branch collaboration to ensure effective implementation.

Detailed Summary:

The press briefing can be broken down into the following sections:

1. Opening Statements:

Secretary of Finance: Announced the signing of the ₱6.326 trillion 2025 budget, emphasizing its role in driving economic growth and benefiting Filipinos. He highlighted the exceeding of 2024 revenue targets (₱4.42 trillion, surpassing the ₱4.27 trillion target) and the commitment to reducing the deficit and debt gradually. He stated, "we assure you that from here on things will just get better because you have a government that works non-stop to deliver the benefits that will keep us progressing as a nation every day."
Secretary of Budget and Management: Expressed gratitude to President Marcos Jr. for his review of the budget, preventing a reenacted budget. She detailed the president's use of veto power to reduce program appropriations that had increased significantly in the congressional version, and mentioned the conditional implementation of the Amada sa Kapos na Pamilya (AAP) program.
Secretary of National Economic and Development Authority: Expressed gratitude to Congress for their work and emphasized the budget's alignment with the Philippine Development Plan (PDP) 2023-2028, prioritizing social services and infrastructure. She highlighted the president's judicious vetoes to ensure fiscal responsibility and inclusive growth, stating the goal is to "ensure that planned spending remains within the target deficit ceiling."
Secretary of Public Works and Highways: Expressed gratitude for the allocated budget and commitment to using funds wisely and efficiently on infrastructure projects crucial for socioeconomic development.

2. Q&A Session:

This section addressed various questions from reporters, focusing on:

Vetoed Line Items: Significant vetoes, particularly in the DPWH budget (₱26 billion), were explained as being for projects not fully aligned with the administration's agenda, not ready for implementation, or ambiguous. The reduction of unprogrammed appropriations (from ₱168 billion to ₱178 billion) was also discussed, aiming for consistency with the 5% standby fund.
Budget Allocation Comparisons: Comparisons between education and public works budgets were made, with education receiving approximately ₱1.053 trillion and DPWH receiving ₱1.34 trillion. Further breakdowns were promised.
Conditional Implementation: The conditional implementation of programs like AAP was clarified, emphasizing the need for guidelines and compliance before funds are released.
Restoration of Budget Cuts: The question of restoring budget cuts in education was addressed, explaining that while line items cannot be added, unprogrammed appropriations can be used for augmentation if additional revenue is generated.
Legal Challenges: Confidence was expressed in the budget's legality, though the possibility of challenges was acknowledged.
Specific Program Details: Questions and answers covered specific programs, including PhilHealth (zero subsidy due to sufficient reserves), the Office of the President's budget increase, and the Department of Agriculture's budget for rice programs. The conditional implementation of various programs was detailed.
Budget Process: The process of budget creation, from the National Expenditure Program (NEP) to the General Appropriations Act (GAA), was explained, highlighting the roles of the executive and legislative branches and the president's veto power.
Preventing Future Budget Conflicts: Discussions touched upon preventing similar conflicts in future budget cycles, focusing on improving coordination between the executive and legislative branches.

3. Closing Statements:

The executive secretary offered closing remarks, emphasizing the importance of the budget and the collaboration between government branches. He expressed hope that there would be no further challenges to the budget.

The briefing demonstrates a complex process of budget creation and implementation, highlighting the interplay between the executive and legislative branches and the challenges of balancing fiscal responsibility with social and economic development goals. The president's active role in reviewing and shaping the budget was a recurring theme.