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Thursday, December 12, 2024

Marcos to sign 2025 national budget before Christmas

The Congress-approved national budget for 2025 will be transmitted to Malacañang for review and is expected to be signed by President Ferdinand Marcos Jr. before Christmas Day, according to Presidential Communications Office (PCO) Secretary Cesar Chavez.

Chavez said the Office of the President will follow the standard practice of reviewing the budget bill once it is received from Congress.  

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The national budget outlines the government’s priorities for infrastructure development, social services, and other key programs for the upcoming fiscal year. Its timely enactment is seen as crucial for ensuring uninterrupted government operations and project implementation.

The bicameral conference committee has approved the proposed P6.35 trillion national budget for 2025, with significant allocations for social safety nets and economic resilience.   

The final version includes restored funding for the Ayuda sa Kapos ang Kita Program (AKAP) and other critical initiatives. AKAP, which provides direct financial assistance, received a budget of P26 billion for next year.

Key amendments include an additional P292.23 billion to support vulnerable sectors such as low-income families, farmers, and soldiers.

Other notable allocations include funding increases for education, agriculture, and defense.

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