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Philippines Enacts USD115B National Spending Plan for 2026
(MENAFN) Philippine President Ferdinand Romualdez Marcos enacted a 6.793-trillion-peso (approximately $115 billion) national spending plan for 2026 on Monday, outlining sweeping investments across critical sectors.
During the signing ceremony at the presidential palace, Marcos characterized the 2026 General Appropriations Act as synchronized with the government's medium- and long-term development strategies, designed to enhance the living standards of Filipinos.
Within the budget framework, education secured the dominant allocation, receiving over 1.34 trillion pesos designated for expanding teaching and non-teaching permanent positions, advancing teacher promotion and reclassification initiatives, and constructing classrooms nationwide.
The healthcare sector obtained 448.125 billion pesos to bolster universal healthcare implementation, encompassing resources for disease surveillance systems, rapid response capabilities, and sustainable health financing mechanisms.
Agriculture garnered upward of 297 billion pesos intended to modernize supply chain infrastructure and provide assistance to farmers and fisherfolk communities.
Social protection initiatives received more than 270 billion pesos earmarked to elevate quality of life standards, protect welfare across diverse sectors, and reinforce human capital development.
Marcos stated the budget's flagship programs are structured to propel the nation toward achieving a single-digit poverty rate by 2028. (1 peso equals 0.017 U.S. dollars)
During the signing ceremony at the presidential palace, Marcos characterized the 2026 General Appropriations Act as synchronized with the government's medium- and long-term development strategies, designed to enhance the living standards of Filipinos.
Within the budget framework, education secured the dominant allocation, receiving over 1.34 trillion pesos designated for expanding teaching and non-teaching permanent positions, advancing teacher promotion and reclassification initiatives, and constructing classrooms nationwide.
The healthcare sector obtained 448.125 billion pesos to bolster universal healthcare implementation, encompassing resources for disease surveillance systems, rapid response capabilities, and sustainable health financing mechanisms.
Agriculture garnered upward of 297 billion pesos intended to modernize supply chain infrastructure and provide assistance to farmers and fisherfolk communities.
Social protection initiatives received more than 270 billion pesos earmarked to elevate quality of life standards, protect welfare across diverse sectors, and reinforce human capital development.
Marcos stated the budget's flagship programs are structured to propel the nation toward achieving a single-digit poverty rate by 2028. (1 peso equals 0.017 U.S. dollars)
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