President Ferdinand R. Marcos Jr. has approved the proposed P6.793 trillion national budget for fiscal year 2026, Malacañang said Tuesday. 

Presidential Communications Undersecretary and Palace Press Officer, Atty. Claire Castro, in a press briefing, said the proposed budget underscores the administration’s commitment to improving the quality of education and uplifting the lives of all Filipinos.

Castro shared that during a Cabinet meeting held at the Malacañan Palace on Tuesday morning, President Marcos emphasized that the 2026 budget must not only support economic growth but also prioritize the welfare of every citizen.

“Under the Marcos administration, the well-being of every Filipino and the future of our nation remain at the heart of building a more progressive and developed Bagong Pilipinas,” Castro said in Filipino.

Department of Budget and Management Secretary Amenah Pangandaman said the budget reflects the administration’s development goals under the Philippine Development Plan (PDP) 2023–2028, with Marcos personally engaging with agencies to align priorities under his vision for a “Bagong Pilipinas.”

The proposed budget is 7.4 percent higher than the 2025 budget and equivalent to 22 percent of the GDP. 

Pangandaman said DBM trimmed down agency funding requests amounting to P10.1 trillion due to limited fiscal space and ongoing deficit reduction efforts, which aim to lower the deficit from 5.5 percent of GDP in 2025 to 4.3 percent by 2028.

By expenditure class: Maintenance and Other Operating Expenses (MOOE): P2.639 trillion; Personnel Services: P1.908 trillion (28.1% of total, +16.8% YoY); Capital Outlays: PhP1.296 trillion for infrastructure; and Financial Expenses: PhP950 billion

Budget allocation includes national government agencies with P4.305 trillion (63.4%); Local government units with P1.350 trillion (~20%); and Government-Owned or Controlled Corporations (GOCCs) with P188.3 billion in subsidies and lending support. 

The National Expenditure Program (NEP) will be submitted to Congress within 30 days after the opening of its regular session.