Marcos' economic team holds press briefing on 2025 national budget

Short Summary:

The press briefing covers the recently signed ₱6.326 trillion 2025 Philippine National Budget. Key points include the budget's prioritization of infrastructure, education, and social services, a revenue collection exceeding targets in 2024, and the President's use of veto power to ensure alignment with the administration's socioeconomic agenda. Significant line item vetoes, particularly in the Department of Public Works and Highways (DPWH), were explained as addressing projects deemed unready for implementation or not aligned with national priorities. Conditional implementation of certain programs was also announced, emphasizing fiscal responsibility and targeted social protection. The implications are a focus on inclusive growth and poverty reduction, but potential legal challenges are acknowledged. The budget process itself, including the roles of the executive and legislative branches, is discussed, highlighting the interplay between the proposed budget and the final enacted version.

Detailed Summary:

The press briefing is structured around statements from key members of the Marcos administration's economic team: Executive Secretary Lucas P. Bersamin, Finance Secretary Benjamin Diokno, Budget and Management Secretary Amenah F. Pangandaman, NEDA Secretary Arsenio M. Balisacan, and DPWH Secretary Manuel M. Bonoan.

Section 1: Opening Statements (Bersamin, Diokno): Secretary Diokno announces the signing of the ₱6.326 trillion 2025 National Budget, emphasizing its role in driving economic growth and benefiting Filipinos. He highlights the exceeding of 2024 revenue targets (₱4.42 trillion, surpassing the ₱4.27 trillion target), representing the highest in 27 years. He assures continued efforts to reduce the deficit and debt while creating jobs and decreasing poverty. This section sets the stage by emphasizing the budget's significance and the administration's positive fiscal performance.

Section 2: Budget and Management Secretary Pangandaman's Statement: Secretary Pangandaman expresses gratitude to President Marcos Jr. for his direct involvement in reviewing the budget, preventing a reenacted budget. She explains the constitutional process, highlighting Congress's power and the President's veto power. She specifically mentions significant reductions in unprogrammed appropriations (increased by over 300% in the initial Congressional version) and the conditional implementation of the Assistance to Individuals in Crisis Situations (AICS) program. This section emphasizes the political process and the President's role in shaping the final budget.

Section 3: NEDA Secretary Balisacan's Statement: Secretary Balisacan thanks Congress for its work and emphasizes the budget's alignment with the Philippine Development Plan (PDP) 2023-2028, prioritizing investments in social services and infrastructure. He highlights the President's vetoes as ensuring fiscal responsibility and targeted benefits for the most vulnerable. He stresses the importance of collaboration between the executive and legislative branches. This section focuses on the budget's alignment with national development goals and the administration's commitment to inclusive growth.

Section 4: DPWH Secretary Bonoan's Statement: Secretary Bonoan expresses gratitude for the allocated budget and emphasizes the department's commitment to using funds wisely and transparently. He acknowledges the responsibility of delivering quality infrastructure. This section highlights the DPWH's role and commitment to responsible spending.

Section 5: Q&A Session: This section addresses various questions from journalists, focusing on:

Vetoed items: Significant vetoes in the DPWH budget (roughly ₱26 billion) are explained as relating to projects not ready for implementation or not aligned with the administration's agenda. Unprogrammed appropriations (initially ₱168 billion, reduced to a level consistent with a 5% contingency fund) are also discussed.
Education vs. Public Works budget: Clarification is provided regarding the allocation to education and public works, with education receiving approximately ₱1.053 trillion and DPWH receiving ₱1.34 trillion.
Conditional implementation of programs: The conditional implementation of programs like AAP is explained, requiring the issuance of guidelines before funds are released.
Restoration of budget cuts in DepEd: While direct additions are constitutionally impossible, the use of unprogrammed appropriations for DepEd's computerization program is mentioned.
Legal challenges: Confidence is expressed in the budget's legality, though the possibility of challenges is acknowledged.
Specific program details: Clarifications are given on various programs and projects, including those related to health (PhilHealth), agriculture, and defense.
Budget process: The process of budget creation, from the National Expenditure Program (NEP) to the General Appropriations Act (GAA), is explained, emphasizing the roles of the executive and legislative branches.

Section 6: Closing Statement (Bersamin): The Executive Secretary reiterates the importance of the budget and the collaborative efforts between government branches. He expresses hope that there will be no further challenges to the budget.

The overall briefing emphasizes the administration's commitment to fiscal responsibility, inclusive growth, and targeted social programs, while acknowledging the complexities and potential challenges inherent in the budget process.