Department of Economy, Planning, and Development Secretary Arsenio Balisacan (PNA file photo by Ben Briones)
The P6.793-trillion national budget for 2026, approved with tighter controls on discretionary spending and select vetoed items, is designed to keep the domestic economy on a steady growth path while ensuring that gains are broadly shared, an economic official said on Monday.
Department of Economy, Planning, and Development Secretary Arsenio Balisacan said the signing of the 2026 budget by Ferdinand R. Marcos Jr. marks a critical milestone for the country, removing uncertainty and signaling a clear commitment to advancing the government’s development agenda.
He described the budget not merely as a spending plan, but as a strategic roadmap that supports economic recovery while anchoring long-term priorities under the Philippine Development Plan 2023–2028.
Despite adjustments made to reinforce fiscal discipline, Balisacan said the approved budget remains fully capable of delivering both economic and social objectives.
He noted that spending priorities remain firmly focused on education, health, agriculture, social protection, and job creation—sectors viewed as essential to building a more inclusive, competitive, and resilient economy.
The budget aligns with updated gross domestic product growth assumptions of 5 to 6 percent for 2026, reflecting prevailing global and domestic challenges.
While these targets are slightly lower than earlier projections, Balisacan said the outlook is expected to be more inclusive, with growth structured to translate into tangible improvements in people’s lives.
He added that the budget is deliberately crafted to strengthen human development, enhance food security, and expand employment opportunities, helping ensure that economic growth is not only robust but also widely shared.
Greater inclusivity, he said, will lay the groundwork for stronger and more sustainable economic performance over the medium to long term.
Balisacan also emphasized that the 2026 budget reinforces the government’s commitment to transparency, accountability, and prudent fiscal management.
Through improved program convergence and closer coordination among agencies, he said the administration aims to ensure that every peso spent delivers measurable impact and meaningful benefits for Filipinos.