Finance Secretary Ralph Recto said “ghost” flood control projects have cost the Philippine economy some P118.5 billion between 2023 and 2025.
Speaking to reporters, Recto said the projects, primarily from the Department of Public Works and Highways (DPWH), are “stealing jobs and opportunities from Filipinos.”
According to data from the Department of Finance (DOF), these projects have cost the economy between P42.3 billion to P118.5 billion from 2023 to 2025. This is equivalent to 95,000 to 266,000 jobs.
“It is us in the DOF who must raise the money to build the roads that connect us, to ensure every Filipino has access to quality education and healthcare… Then you will see that it does not go to the right projects and the welfare of the people, some have even become ghosts,” Recto said.
Recto pledged his full support for the president’s directive to scrutinize the 2026 National Expenditure Program (NEP).
“We prepared the NEP with the president to ensure that the projects to be funded in 2026 have the highest multiplier effect. So we will monitor it so that there are no ghost projects. No corruption. No wasted pesos,” he said.
Recto said the Marcos Jr. administration is channeling funds toward projects that deliver the maximum impact for the Filipino people, such as infrastructure, education, health and agriculture. These investments, he said, would create more jobs, raise incomes and reduce poverty, pushing the country closer to its long-term economic aspirations in Ambisyon 2040.
Recto also appealed to senators to ensure the proposed P6.793 trillion NEP for 2026 delivers real value for every Filipino.
“Let’s ensure that it is a budget that works as hard as the people who fund it––the taxpayers,” he said.
