President Marcos Cabinet OKs 2027 NEP

MANILA, Philippines — President Marcos’ Cabinet has approved the 2027 National Expenditure Program (NEP) as presented by the Department of Budget and Management (DBM) during a final review at Malacañang on Friday.

The NEP is the proposed national budget submitted by the executive branch to Congress.

“On the total amount and other details, we do not want to pre-empt the President’s budget submission to Congress,” Presidential Communications Secretary Dave Gomez said in a statement.

DBM earlier said the administration is eyeing a P7.2-trillion appropriation for 2027, higher by six percent or P407 billion more than this year’s P6.793 trillion.

“The proposed budget for next year will focus on programs, activities and projects that seek to create better opportunities and address the needs of the Filipino people, helping ensure a more resilient and secure future for all,” a recent DBM memorandum read.

Under the Constitution, the President has a month to submit next year’s national budget to Congress after delivering his State of the Nation Address (SONA).

Marcos will deliver his fifth and penultimate SONA on July 27. 

Economic growth

The proposed P7.2-trillion national budget for 2027 should spur economic growth while helping the country withstand global and domestic challenges, Senate President Sherwin Gatchalian said Friday.

The proposed spending plan for next year is equivalent to 21.7 percent of the country’s gross domestic product.

Gatchalian said next year’s budget should stimulate economic activity as the country faces risks from elevated global oil prices, the threat of a severe El Niño and rising public debt.

“The national budget for next year should help stimulate economic activity to address global and local challenges, including the need to manage the country’s growing debt,” Gatchalian said.

He said the Senate would closely scrutinize the proposed spending plan to ensure that public funds are used efficiently and for programs that directly benefit Filipinos.

“Aside from prioritizing programs that improve the quality of life of our people, such as infrastructure, education and health care, we must also ensure that the national budget will not be abused and that every peso will be spent for the welfare of our people,” he said.

Gatchalian, who chaired the Senate finance committee during last year’s budget deliberations, said the chamber would continue to push reforms promoting transparency and accountability in the national budget. — Mark Ernest Villeza