DBP wants to limit UAs to 3% of total budget By Reine Juvierre S. Alberto
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ITH the government releasing P218.194 billion in unprogrammed appropriations last year, the Department of Budget and Management (DBM) wants to even cut the level to 3 percent of the total budget. On the sidelines of Makati Business Club’s Business-Government Forum on Tuesday, Acting Budget Secretary Rolando U. Toledo told reporters he supports lowering unprogrammed appropriations even further below the current level. This year, unprogrammed appropriations amounted to P243.400 billion, or 3.5 percent of the P6.793trillion national budget. “I can go lower by 3 percent, prob-
SEE ON PAGE A3
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ably, not just 5 percent. Just to minimize the unprogrammed appropriations level,” Toledo said, noting that the matter is still subject to discussion in Congress. Unprogrammed funds provide standby appropriation authorized by Congress in the General Appropriations Act and may be charged against excess or windfall revenues to fund specific programs and projects. It may only be used under strict conditions, such as the availability of excess revenues, new revenue measures, or approved loans for foreign-assisted projects, and only for the specific purposes identified in the law. To put a limit on unprogrammed appropriations, the DBM is advo-
cating for the passage of the Progressive Budgeting for Better and Modernized Governance Act. The bill is part of the common legislative agenda for the 20th Congress, but not under the priority bills for passage by June 2026. “[We need this] for us to really attain what we want to have in terms of transparency, accountability and citizen participation,” Toledo said, in terms of the whole budget process, including execution, monitoring and evaluation. In 2025, unprogrammed appropriations released by the government reached P218.194 billion, pushing the total budget releases to P6.486 trillion. The bulk, or P110.359 billion, of the unprogrammed appropriations
were used as support to foreignassisted projects of the Department of Public Works and Highways and the Department of Transportation (DOTr). The DOTr further received P1 billion for the Risk Management Program. Another P10.453 billion was disbursed as the government counterpart of foreign-assisted projects of the DOTr, Department of Health and the Department of Economy, Planning and Development, among others. Meanwhile, P51.969 billion went to government infrastructure and social programs of the Department of Social Welfare and Development and the Department of Education. See “DBP,” A9
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Thursday, February 26, 2026 Vol. 21 No. 137
P25.00 nationwide | 3 sections 28 pages | 7 DAYS A WEEK
EDSA AT 40: REMEMBERING THE REVOLUTION People from all walks of life gathered on Wednesday, February 25, 2026, to mark the 40th anniversary of the People Power Revolution—the peaceful uprising that toppled the Marcos dictatorship and restored democracy in the Philippines.
Religious and cause-oriented groups led a prayer rally in front of the Edsa Shrine, formally known as the National Shrine of Mary, Queen of Peace, honoring the courage and unity of the Filipino people during that historic week. The commemorative march and program later moved to the People Power Monument, where participants paid tribute to the heroes of 1986. The 35-foot by 11-foot bronze monument, designed by artist Virginia Ty-Navarro, remains a lasting symbol of democracy, solidarity, and the nation’s commitment to peaceful change. In Cebu City, Archbishop Alberto Uy told attendees at the Basilica Minore del Santo Niño in Cebu, the 1986 revolt is a “moment of national awakening” and reminded Filipinos that the spirit of Edsa must remain alive amid persistent corruption and injustice. Edsa anniversary story on page A12. NONOY LACZA / BERNARD TESTA/ ROMAN CATHOLIC ARCHDIOCESE OF CEBU
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By Andrea E. San Juan @andreasanjuan
THER branches of government should help monetary authorities in getting the economy out of slow growth, according to analysts. A few days after the central bank decided to reduce the Target Reverse Repurchase (RRP) Rate by 25 basis points to 4.25 percent, experts shared their insights on what could really help address the slowdown in the economy, with most of them pointing out that growth could have been impeded by “structural” woes such as fiscal drag and issues on human capital. “Monetary policy can’t go it alone
to extricate the economy from low growth,” former Socioeconomic Planning Secretary Dante B. Canlas told the BusinessMirror in a Viber message on Wednesday. “The BSP has been successful in disinflating the economy without causing a recession. It has cut interest rates in support of consumption & investment,” Canlas pointed out. See “BSP,” A2
PHL TO ‘DO MORE’ AFTER 53RD RANK IN B-READY REPORT By Reine Juvierre S. Alberto
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@reine_alberto
HE Philippines will push for deeper reforms to sustain investor confidence after landing in the middle among economies assessed by the World Bank in its latest Business Ready (B-Ready) report. “We do not stop here,” Finance Secretary Frederick D. Go said in a statement on Wednesday. “We must continue to improve
implementation, service quality, and operational efficiency if we are to build a business environment that truly empowers our people—creating more jobs, better jobs, and meaningful opportunities for every Filipino.” The Philippines ranked 53rd out of 101 economies in the BReady 2025 report, which evaluates global business and investment climate across regulatory framework, public services and operational efficiency. See “B-Ready,” A9
BSP to require BSFIs to level up cyber security
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HE central bank is set to require BSP Supervised Financial Institutions (BSFIs) to implement a measure that enables these institutions to assess their cybersecurity maturity as the financial sector combats “evolving” cyber threats. “Digital financial and payment services and platforms continue to evolve rapidly, with innovative solutions emerging to enhance customer experience, improve operational efficiency, expand accessibility, and strengthen market competitiveness,” the Bangko Sentral ng Pilipinas (BSP) said in an explanatory note on the Proposed Cybersecurity Control Self-Assessment Requirement. As these developments are accompanied by a
“corresponding increase” in cyber threats which heighten risks to both financial institutions and their customers, the central bank said it has come up with a proposal to strengthen BSP’s supervisory oversight. The central bank will do so by adopting a “more proactive” approach through the implementation of a Cybersecurity Control Self-Assessment (CCSA) requirement for BSP Supervised Financial Institutions (BSFIs). According to the BSP, the CCSA shall be supported by a Cybersecurity Maturity Framework (CMF), to guide the measurement of both the current maturity level, based on the CCSA results, and the target maturity level See “BSFIs,” A2
PESO EXCHANGE RATES n US 57.7210 n JAPAN 0.3703 n UK 77.8714 n HK 7.3791 n CHINA 8.3882 n SINGAPORE 45.5788 n AUSTRALIA 40.7222 n EU 67.9607 n KOREA 0.0401 n SAUDI ARABIA 15.3869 Source: BSP (February 25, 2026)