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Philippines approves new national budget for 2026
(MENAFN) Philippine President Ferdinand Romualdez Marcos on Monday approved the country’s 2026 national budget, worth 6.793 trillion pesos (around 115 billion U.S. dollars).
At the signing ceremony in the presidential palace, Marcos said the General Appropriations Act for 2026 aligns with the government’s medium- and long-term development plans and aims to improve the lives of Filipinos.
Education received the largest portion, over 1.34 trillion pesos (22.78 billion USD), to fund new teaching and non-teaching positions, promotions, reclassifications, and classroom construction nationwide. The health sector was allocated 448.125 billion pesos (7.62 billion USD) to support universal healthcare, including disease monitoring, rapid response initiatives, and sustainable health financing.
Agriculture will receive more than 297 billion pesos (5.05 billion USD) to modernize supply systems and assist farmers and fisherfolk, while social protection programs are set to get over 270 billion pesos (4.59 billion USD) to improve living standards, safeguard welfare, and build human capital.
Marcos emphasized that the budget’s flagship programs aim to reduce poverty to single-digit levels by 2028.
At the signing ceremony in the presidential palace, Marcos said the General Appropriations Act for 2026 aligns with the government’s medium- and long-term development plans and aims to improve the lives of Filipinos.
Education received the largest portion, over 1.34 trillion pesos (22.78 billion USD), to fund new teaching and non-teaching positions, promotions, reclassifications, and classroom construction nationwide. The health sector was allocated 448.125 billion pesos (7.62 billion USD) to support universal healthcare, including disease monitoring, rapid response initiatives, and sustainable health financing.
Agriculture will receive more than 297 billion pesos (5.05 billion USD) to modernize supply systems and assist farmers and fisherfolk, while social protection programs are set to get over 270 billion pesos (4.59 billion USD) to improve living standards, safeguard welfare, and build human capital.
Marcos emphasized that the budget’s flagship programs aim to reduce poverty to single-digit levels by 2028.
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