The proposed 2025 budget of the national government remains on track for timely submission to Congress, the Department of Budget and Management (DBM) said yesterday.
The President is expected to present the proposed budget to Congress within 30 days of delivery of his State of the Nation Address (SONA).
According to the DBM, Budget Secretary Amenah Pangandaman targets to submit to Congress the proposed budget within one week from the President’s SONA.
Yesterday, Pangandaman presented the proposed national budget for fiscal year 2025 pegged at P6.352 trillion to the President and members of the cabinet.
The proposed budget for the upcoming year is 10.1 percent higher than the 2024 General Appropriations Act at P5.768 trillion.
This is likewise equivalent to 22 percent of gross domestic product.
“The proposed 2025 national budget fulfills the needs and aspirations of the Filipino people and is consistent with the Philippine Development Plan (PDP) 2023-2028. We have crafted this carefully and meticulously to ensure that we stay on track with our economic growth targets while ensuring no one is left behind,” Pangandaman said.
The proposed budget for next year is anchored on three pillars of the PDP: Pillar 1 – Develop and Protect the Capabilities of Individuals and Families; Pillar 2 – Transform Production Sectors to Generate More Quality Jobs and Competitive Products; Pillar 3 – Create an Enabling Environment.
In her presentation, the budget chief also mentioned that key factors were considered in evaluating the 2025 budget proposals, including the availability of fiscal space; implementation-readiness of programs, activities and projects; agency’s absorptive capacity; alignment with Budget Priorities Framework and PDP 2023-2028; Public Investment Program/Three-Year Infrastructure Program; Information Systems Strategic Plan and Program Convergence.
Meanwhile, in a separate statement, the DBM said it has approved the issuance of a Special Allotment Release Order and its corresponding notice of cash allocation in the amount of P110 million to fund the implementation of the Malikhaing Pinoy Program, as requested by the Department of Trade and Industry (DTI).
The Malikhaing Pinoy Program is an initiative of the DTI aimed at harnessing the capabilities and creativity of Filipinos for economic growth and recovery from challenges.
It promotes various sectors of the creative industry in the Philippines such as game development, animation, furniture design, music, advertising, fashion design, film and the visual arts.
“This funding will greatly help in empowering our creative industries to scale new heights and contribute significantly to our nation’s economic and cultural revival,” Pangandaman said.
The budget release will sustain and expand the programs of the Philippine Creative Industries Council for the creative industry in areas such as talent development and training, incubation and acceleration, networking and promotions, export development, intellectual property, research and development, the establishment of creative clusters and hubs, policy advocacy and market access.
It shall likewise support various activities to be conducted this year, such as the Philippines Skills Framework, Creative Startup Hackathon, Lunsod Lunsad, Creative Voucher Program Study, Creative Incubation, Global Market Acceleration Initiatives, support to book publishing initiatives, FiestaKucha, Creative Industries Month and Secretariat Services to the Council.
