Manila: The Cabinet on Friday approved the proposed 2027 National Expenditure Program (NEP) presented by the Department of Budget and Management during a meeting presided over by President Ferdinand R. Marcos Jr. at Malaca±an Palace.

According to Philippines News Agency, Presidential Communications Office Acting Secretary Dave Gomez stated that details of the proposed spending plan, including its total amount, would be disclosed once President Marcos formally submits the budget proposal to Congress in accordance with the budget process. Gomez emphasized that the Cabinet discussed and approved the 2027 NEP as presented by the DBM, but refrained from detailing the total amount to avoid pre-empting the President's budget submission to Congress.

The NEP serves as the national government's proposed budget for the upcoming fiscal year and acts as the foundation for Congress in crafting the General Appropriations Bill. This bill, once signed into law by the President, becomes the General Appropriations Act. The spending plan outlines the planned government expenditure for the next fiscal year and allocates funds for various programs and initiatives.

Based on National Budget Memorandum 158 issued by the DBM on June 25, the Marcos administration is proposing a PHP7.2-trillion national budget for 2027. This amount represents 21.7 percent of the country's gross domestic product (GDP) and marks a 6 percent increase, equivalent to PHP407 billion, from the PHP6.793 trillion national budget for 2026.