President Ferdinand “Bongbong” Marcos Jr. has directed the release of P1.307 trillion in program funds for the final quarter of the year to accelerate disaster recovery efforts and strengthen social welfare programs across the country.
The move, announced by the Presidential Communications Office Undersecretary Claire Castro, marks one of the administration’s most aggressive spending drives this year, as it seeks to fuel both immediate relief and long-term economic growth as the country faces mounting recovery needs following a string of calamities.
“The president wants every peso of government spending to be used responsibly and effectively to promote economic activity and improve people’s lives,” Castro said.
Budget Secretary Amenah Pangandaman said the Department of Budget and Management will prioritize funding for social services, consistent with the president’s order to help Filipinos rebuild their lives and livelihoods.
According to Castro, the massive release of funds is expected to stimulate growth through what they described as a “multiplier effect,” in which public spending on infrastructure, education, healthcare, and subsidies generates broader economic gains.
“The government believes that when local funds are used correctly for infrastructure, health, education, or direct subsidies, more money enters, helping to grow the country’s economy,” Castro said.
“Consumption and investment are strengthening as investors see rising demand for their products and services,” she added.
The Palace official said the Marcos administration’s top priorities remain boosting investment, expanding employment, and raising the quality of life for Filipinos, alongside the continued recovery of the national economy.
