The approval of this yr’s funds is backdropped by elevated scrutiny and public outcry over billions of pesos had been pocketed by way of authorities initiatives, lots of them associated to flood management, that had been substandard or non-existent
MANILA, Philippines — President Ferdinand Marcos Jr. indicators the 2026 nationwide funds into regulation on Monday, January 5.
The 2026 funds is the primary beneath Marcos to be signed this late. Marcos sometimes signed funds payments into regulation earlier than the earlier fiscal yr’s finish.
The approval of this yr’s funds is backdropped by elevated scrutiny and outcry over billions in pesos that had been pocketed by way of authorities initiatives, lots of them associated to flood management, that had been substandard or non-existent.
Performing Finances Secretary Rolando Toledo mentioned the 2026 funds “underscores the Marcos Jr. administration’s dedication to put the Filipino individuals on the heart of the nation’s progress by prioritizing key sectors that lay the muse for inclusive improvement.”
Finances watchdogs earlier referred to as on Marcos to behave on P633 billion in “pork” gadgets in 2026 funds, together with P243 billion in “shadow pork” gadgets or unprogrammed appropriations.
Toledo, in a press assertion forward of the nationwide funds signing, mentioned “a number of gadgets beneath Unprogrammed Appropriations have been scrapped from the 2026 nationwide funds because of the President’s determination to train veto powers” with out going into specifics. – Rappler.com
