MANILA: The recent signing of the 2025 General Appropriations Act (GAA) marks a significant milestone in the Philippines' efforts to enhance human capital development and alleviate poverty, according to National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan. The budget, central to the country's medium-term goals outlined in the Philippine Development Plan (PDP) 2023-2028, underscores the government's commitment to strategic investments in key sectors.
According to Philippines News Agency, Balisacan highlighted the importance of the newly signed GAA during a press conference held at Malaca±ang Palace. He noted that the national budget will prioritize education, health, social welfare programs, and infrastructure projects, all essential components to driving growth and inclusion. These priorities align with the PDP's targets focused on enhancing human capital and reducing poverty.
Balisacan also commended President Ferdinand R. Marcos Jr. for his fiscal discipline, demonstrated by the vetoing of over PHP194 billion worth of line items. The President's decision, made in consultation with Cabinet members, reflects a commitment to fiscal responsibility and ensuring government spending remains within the target deficit ceiling. The vetoed items included programs inconsistent with the administration's priorities and those deemed ambiguous, such as a significant increase in unprogrammed appropriations.
Budget Secretary Amenah Pangandaman and Finance Secretary Ralph Recto echoed Balisacan's sentiments, emphasizing the administration's dedication to its fiscal program. By maintaining spending within the target deficit ceiling, the government aims to meet its medium-term fiscal targets.
Balisacan further emphasized the significance of 2025 as a critical year, marking the midterm of the Marcos administration. He expressed the administration's resolve to sustain gains and accelerate efforts in areas needing improvement. The ceremonial signing of the GAA reaffirms the government's commitment to providing a stable, comfortable, and secure life for all Filipinos.
