NEDA backs Marcos’ budget vetoes, cites need for fiscal responsibility

The National Economic and Development Authority (NEDA) lauded President Ferdinand R. Marcos Jr. for vetoing appropriations in the proposed 2025 national budget “that are not responsive” to Filipinos’ needs.

In a short media briefing on Monday, NEDA chief Arsenio Balisacan said Marcos’ actions on certain line items in the 2025 General Appropriations Act (GAA) were “decisive actions” that demonstrate the administration’s commitment to a justifiable fiscal program.

“By ensuring that planned spending remains within the target deficit ceiling, keeping us on track to meet our medium-term fiscal targets,” Balisacan told reporters.

He likewise commended the President for setting specific conditions for implementing certain programs and projects under the GAA, such as requiring the issuance of guidelines and compliance with pertinent laws, policies, and standard regulations.

In a ceremonial event at Malacañan Palace, Marcos signed the P6.326 trillion 2025 GAA following his thorough review and scrutiny with the country’s economic managers.

The budget, initially amounting to P6.352 trillion, was reduced by P194 billion after Marcos vetoed some line items he deemed “inconsistent with the administration’s priority programs.”

Among these items were the P26.065 billion worth of projects under the Department of Public Works and Highways (DPWH) and the P168.240 billion allocated under “Unprogrammed Appropriations.”

Marcos also ordered a “conditional implementation” on specific items to ensure funds are utilized effectively, emphasizing that the government must not be merely a provisional solution but address long-term issues.

Balisacan expressed his full support for the newly signed 2025 national budget.

“The 2025 GAA supports the goals outlined in the Philippine Development Plan 2023-2028, including attaining our medium-term goal targets as approved by the Development Budget Coordination Committee,” he said.

Balisacan noted the budget prioritizes strategic investments in social services, with substantial allocations to education, health, and social welfare programs, and infrastructure projects to boost growth.

“These investments are crucial for achieving the PDP targets related to human capital development and poverty reduction in line with the Marcos administration’s commitment to public welfare and fiscal responsibility,” he added.