Philippine Leader Marcos signs USD109.3B national budget for 2025
Date
12/30/2024 3:31:28 AM
(MENAFN) On Monday, Philippine President Ferdinand Romualdez Marcos signed into law the 6.33 trillion peso (USD109.3 billion) national budget for 2025, marking a 9.7 percent increase over the 2024 budget.
During the signing ceremony at the presidential palace, Marcos highlighted the budget as a representation of his government’s commitment to turning economic achievements into sustainable long-term growth and improving the lives of Filipinos.
"It is designed not just to address our present needs but to sustain growth and uplift the lives of generations that are yet to come," Marcos stated.
The 2025 national budget reflects the administration’s priorities, including a focus on social services, education, and health, while also addressing crucial needs in infrastructure development and agricultural support.
In early December, the government projected the country’s GDP to grow by 6 to 6.5 percent in 2024, despite facing what it described as the "most uncertain" economic environment both domestically and internationally. The GDP growth target for 2025 was subsequently widened to a range of 6 to 8 percent.
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