President Marcos Urges Swift Approval of P6.793-T Budget for 2026

Strategic Insights -

Philippine President Marcos has called on lawmakers to expedite the approval of the proposed P6.793-trillion national budget for 2026, citing its alignment with the government's agenda for prosperity. The budget, which represents a 7.4 percent increase from this year's outlay, is anchored on the theme of nurturing future-ready generations to achieve the nation's full potential. The administration aims to pursue reforms promoting transparency in the budget process, including the passage of the Right to Information bill and the Progressive Budgeting for Better and Modernized Governance bill.

Key Takeaways:

  • The proposed 2026 national budget amounts to P6.793 trillion, a 7.4 percent increase from this year's P6.326 trillion outlay.
  • The budget is equivalent to 22 percent of the Philippines' gross domestic product (GDP).
  • The Marcos administration aims to pursue reforms promoting transparency in the budget process, including the passage of the Right to Information bill and the Progressive Budgeting for Better and Modernized Governance bill.
  • Next year's budget is based on the assumption that the Philippine economy will grow by 5.5 to 6.5 percent this year.
  • From 2026 to 2028, the government projects a six to seven percent GDP growth rate.
  • Revenue collections are seen to hit P4.983 trillion next year, a 10.2 percent increase from the P4.520 trillion collected this year.
  • The fiscal deficit is projected to hit 5.3 percent of GDP in 2026, lower than the 5.5 percent this year, and is expected to further decrease to 4.3 percent by 2028.
  • Social services will receive the biggest share of the budget, with P2.314 trillion allocated.
  • Education will receive a budget increase in 2026, with P1.224 trillion proposed for the current year.
  • The Department of Transportation is poised to receive P198.6 billion in 2026, a P110-billion increase from 2025.

Statistics:

  • Proposed 2026 national budget: P6.793 trillion
  • Increase from this year's outlay: 7.4 percent
  • Budget as percentage of GDP: 22 percent
  • Revenue collections in 2026: P4.983 trillion, an increase of 10.2 percent
  • Fiscal deficit in 2026: 5.3 percent of GDP
  • Fiscal deficit in 2028: 4.3 percent of GDP
  • Proposed education budget: P1.224 trillion
  • Proposed Department of Transportation budget: P198.6 billion

Sources:

  • Philippine Star, "Marcos urges Congress to swiftly approve P6.793-T budget"
  • Philippine Daily Inquirer, "Marcos calls for swift approval of P6.793-T budget"
  • Manila Bulletin, "Marcos urges swift approval of 2026 budget"