Manila: The proposed 2027 national budget should prioritize measures that will boost economic growth and help the country withstand global and domestic challenges, Senate President Sherwin Gatchalian said on Friday.
According to Philippines News Agency, Gatchalian emphasized that next year's spending plan should stimulate economic activity amid global financial headwinds, including persistently high petroleum prices and the threat of a severe El Ni±o. The Department of Budget and Management (DBM) has proposed a PHP7.2-trillion national budget for 2027, marking a 6 percent increase from this year's PHP6.793 trillion. This proposed spending plan represents 21.7 percent of the gross domestic product (GDP).
"Our national budget for next year should help stimulate economic activities to counteract global and domestic challenges, including the need to manage ballooning debt," Gatchalian stated. He played a significant role in the legislation of this year's national budget and continues to highlight the importance of strategic financial planning.
The Senate is set to begin deliberations on the proposed budget in the coming months. Gatchalian acknowledged that the chamber faces a demanding schedule, particularly as it also prepares for the impeachment proceedings against Vice President Sara Z. Duterte. Despite the additional workload, he assured the public that the Senate would adjust its schedule to ensure the timely review of the proposed spending measure.
Gatchalian also noted the Senate's commitment to thoroughly scrutinize the proposed budget to ensure prudent use of public funds. "Bukod sa pagbibigay-prayoridad sa mga programang magpapataas ng kalidad ng buhay ng ating mga kababayan tulad ng imprastraktura, edukasyon at kalusugan, kailangan din nating tiyakin na ang national budget sa susunod na taon ay hindi maaabuso at magagamit lamang para sa kapakanan ng ating mga kababayan," he said, emphasizing the need to prioritize programs that will improve infrastructure, education, and health, while ensuring the budget benefits Filipinos and is not misused.
