Manila: Socioeconomic Planning Secretary Arsenio Balisacan has defended the Marcos administration's handling of state funds, asserting that public spending is being balanced to sustain the country's economic progress. This statement comes in response to former president Rodrigo Duterte's concerns regarding the alleged depletion and mismanagement of funds within government financial institutions (GFIs), such as the Philippine Health Insurance Corporation (PhilHealth), the Government Service Insurance System (GSIS), and the Social Security System (SSS). According to Philippines News Agency, Balisacan addressed these concerns during a Palace press briefing, clarifying that government funds, including those from GFIs, are being allocated to 'productive beneficial projects'. He acknowledged that while these funds have been utilized, they are primarily directed towards infrastructure projects and assistance programs for Filipinos in need. The projects have been thoroughly vetted by economic managers, implementing agencies, and Congress to ensure their alignment with national development goals. Balisacan emphasized the importance of infrastructure and human capital development as long-term investments crucial for the country's growth. He also highlighted the role of emergency assistance as a safety net for individuals affected by calamities or unforeseen incidents. The administration's strategy involves balancing short-term and medium-term spending to ensure sustained economic progress. He further explained that infrastructure development and human capital investment, such as health and education, are essential components of this balanced approach. Balisacan reiterated the administration's commitment to addressing both immediate needs and long-term growth objectives to maintain and enhance economic stability in the Philippines.