PBBM okays P6.7-T 2026 national budget

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 Claire Castro said the proposed budget underscores the administration’s commitment to uplifting the lives of all Filipinos and improving the quality of education.

Castro said that President Marcos during a Cabinet meeting at Malacañang on Tuesday 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.

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

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

The budget includes allocations for national government agencies of P4.305 trillion (63.4 percent); local government units of P1.350 trillion (minus 20 percent); and government-owned and controlled corporations of P188.3 billion in subsidies and lending support.

The National Expenditure Program will be submitted to Congress within 30 days after the opening of its regular session on 28 July.