President Ferdinand “Bongbong” Marcos Jr. is set to sign the proposed ₱6.352-trillion national budget for 2025 on December 30, 2024, following the Rizal Day program in Manila. This was confirmed by Presidential Communications Office acting Secretary Cesar Chavez on Tuesday.
The signing was initially scheduled for December 20 but was postponed to allow for a thorough review of the measure, as per Executive Secretary Lucas Bersamin. Marcos has been consulting with department heads to finalize the budget, ensuring all priorities are adequately addressed.
Budget Approval Timeline
President Marcos expressed confidence that the budget would be signed before the year ends, meeting constitutional requirements to avoid a reenacted budget for 2025. According to Section 25(7), Article VI of the 1987 Constitution, the previous year’s budget remains in effect if Congress fails to pass the General Appropriations Bill (GAB) before the fiscal year ends.
Historically, the Philippines experienced reenacted budgets during fiscal years 2001, 2004, and 2006, with partial reenactments in 2003, 2005, 2008, and 2009, the Department of Budget and Management (DBM) noted.
Key Highlights of the Budget
The Senate and House of Representatives recently ratified the bicameral conference committee report on the GAB. Notable provisions include:
- Retaining the ₱733-million budget for the Office of the Vice President.
- Reducing the Department of Education’s budget by ₱10 billion.
- Allocating ₱26 billion for the Ayuda para sa Kapos at Kita Program (AKAP), aimed at providing financial aid to low-income families.
Presidential Veto Power
Under Article VI, Section 27(2) of the Constitution, the President can exercise a “line-item veto,” rejecting specific provisions in the appropriations bill without affecting the approval of other items.
As the year draws to a close, the forthcoming budget signing underscores the administration’s commitment to sustaining government programs and addressing the nation’s pressing needs.