The Department of Budget and Management (DBM) has urged government departments and agencies to start preparing their 2026 budget proposals.
Budget Secretary Amenah F. Pangandaman issued National Budget Memorandum No.
“The proposed national budget and its priorities will be supported by the National government’s commitment to the achievement of the PDP (Philippine Development Plan) 2023-2028, which is in line with the objectives of the 2030 Agenda for Sustainable Development and Ambisyon Natin 2040,” he said.
AmBisyon Natin 2040 refers to “the collective long-term vision and aspirations of the Filipino people” for the next 25 years, which aims to achieve a middle-class society with per capita income expected to grow at least threefold.
“With only a few years left until the 2030 Agenda, there is a need to accelerate progress or change bad practices to achieve the global goals of establishing a revolutionary vision for economic, social, and environmental sustainability,” said Ms. Pangandaman.
He said the budget should look to manage the lingering effects of inflation, such as higher food and fuel prices, and protect the purchasing power of Filipinos.
It should also aim to support investment in infrastructure and continue the government’s efforts to digitize “public finance management to increase office efficiency and drive transparent service delivery.”
The Secretary of the DBM said that the spending plan should promote a development situation that is “inclusive” and “balanced” by “balancing” between the needs of urban areas in the regions.
“However, in full recognition of the impact of the country’s debt burden and the competing needs of government agencies, the allocation of the FY 2026 budget will be improved,” said Ms. Pangandaman.
Data from the Bureau of the Treasury says the outstanding debt reached a record high of P16.02 trillion as of the end of October last year.
In the Medium Term Fiscal Sector, the Development Budget Coordinating Committee (DBCC) set a spending target of P6.54 billion by 2026. It also predicted that the revenue will reach P5.063 trillion or 16.2% of the gross domestic product (GDP) next year. .
DBCC also expects GDP to grow by 6-8% in the period 2026 to 2028. – Aubrey Rose A. Inosante
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