DBM chief: 2026 budget could hit P6.79T B R J S. A @reine_alberto
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HE national government’s budget for 2026 could reach about P6.793 trillion, or 7.38 percent higher than this year’s level of P6.326 trillion, according to the Department of Budget and Management (DBM). In a news forum on Wednesday, Budget Secretary Amenah F. Pangandaman said the national budget will be “more or less” than the expenditure program of P6.793 trillion for next year. “We will still review [the budget level in the] first quarter,” Pangan-
daman said as the Department of Finance (DOF) is still lining up new revenue measures. Budget Preparation and Execution Undersecretary Rolando U. Toledo added there are developments to be factored in next year’s expenditure program, since it was done in the previous year. “The budget increases because of the increasing revenue collection,” Toledo said, adding that economic growth, inflation, foreign exchange rates and costs of fuel are factored in. Pangandaman said the entire Medium-Term Fiscal Framework, outlining the government’s rev-
enues, expenditures and fiscal balance projections, will be reviewed and adjusted this year. Pangandaman issued the national budget call for 2026 through National Budget Memorandum No. 153 this week to provide government agencies with enough time to prepare their budget requests to the DBM. A budget forum is set on January 28 to brief national government agencies and state-run firms and ensure that their projects are readily implementable and consistent with the Philippine Development Plan (PDP) 2023-2028, she added.
The 2026 national budget aims to manage the effect of inflation, support infrastructure investment, sustain the government’s efforts to digitalize public financial management and create an inclusive and balanced development landscape across the country.
DBM ready to face SC
AMID looming cases before the Supreme Court questioning the constitutionality of the P6.326-trillion 2025 national budget, Legal and Legislative Group Undersecretary Janet B. Abuel said the DBM
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Thursday, January 9, 2025 Vol. 20 No. 89
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REQUENT typhoons brought by the era of climate change could lead to more job losses in the agriculture sector and threaten the country’s food security in the process, according to local economists.
On Wednesday, the Philippine Statistics Authority (PSA) reported that while unemployment and underemployment improved, the number of employed Filipinos declined. (See: https://businessmirror. com.ph/2025/01/08/typhoons-renderfarmers-fisherfolk-jobless-in-november/)
In terms of subsector, the decline in jobs was led by the Agriculture and forestry sector which saw a 1.99-million decline in jobs. The amount includes the 1.6-million jobs in elementary occupations such as farm laborers and fisherfolks. “I think there are still typhoons expected to come in, so if that’s the case, we will continue to lose jobs in agri unless we improve on agrilogistics,” De La Salle University economist Maria Ella Oplas told BM.
“There will definitely be a food security problem with the continuing typhoons unless we upgrade our agrologistics,” she added. Oplas explained that agrologistics referred to planting, harvesting, sorting, grading, storage, transport, marketing, and others. In short, it is the “whole cycle” and a “comprehensive” approach to agriculture in the country.
Not surprising–Escucha
INSTITUTE for Economic Development and Economic Analysis (Idea) President Alex Escucha told BM the job losses in the agriculture sector was no longer surprising. Apart from the typhoons, he said agriculture growth has not been robust. Escucha said farm growth in the S “J,” A
AGENCIES SET TIGHTER RULES FOR AKAP AMID ABUSE FEARS
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HE government’s cash assistance program Ayuda Para sa Kapos ang Kita Program (Akap) would require beneficiaries to present their national IDs to prevent duplication as well as include triggers to release the cash aid. The controversial Akap was retained in the P6.326-trillion national budget for 2025 and will be receiving P26.5 billion but under “conditional implementation.” Based on the President’s veto message on the 2025 General Appropriations Act, the implementation of Akap shall be in strict compliance with pertinent laws, rules, regulations and jurisprudence, and in accordance with the guidelines to be issued jointly by the Departments of Social Welfare and Development (DSWD) and Labor and Employment (DOLE) and National Economic and Development Author-
ity (Neda). As such, the guidelines are being finalized by the agencies and are expected to be issued by the end of the month. Budget Secretary Amenah F. Pangandaman said, although not yet final, that Neda Secretary Arsenio M. Balisacan wanted to require beneficiaries’ national IDs to confirm their identities and prevent duplication. As Akap intends to address the strain posed by rising inflation on the financial capacity of those who earn less than minimum wage, Pangandaman said the agencies should also consider adding a trigger before the cash assistance is released. Similar to the Department of Transportation’s program where fuel subsidy is provided amid high gasoline prices, inflation should also be at a high level beS “A,” A
THEIR HOPES IN HIS HEART A day before the 2025 Jesus Nazareno Traslacion, thousands of devotees from different walks of life line up at Quirino grandstand in Manila to wipe the feet of the miraculous Black Nazarene. Millions are expected to join the biggest religious event in the Philippines, and security top brass said there was no active threat monitored. NONIE REYES
BOC nets P84B from fuel marking, revenue, seizures
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HE Bureau of Customs (BOC) seized P84.356 billion worth of smuggled commodities from January to November 2024, according to an official. During the SGV’s Tax Symposium on Wednesday, Customs Assistant Commissioner Vincent Philip C. Maronilla reported that the BOC has conducted a total of 1,572 seizures in 2024, amassing P84.356 billion. Agricultural products were the most seized commodity last year, with 977 in number of seizures, valued at P856.793 million. “This focus reflects our dedication to protecting local industries and ensuring food security by preventing the unlawful entry of contraband agricultural activities,” Maronilla said. This was followed by curren-
cies or smuggled money worth P138.906 million with 169 seizures throughout the year. A total of P8.583-billion smuggled cigarettes, tobacco and vape products were also confiscated 167 times in 2024. In terms of estimated value, counterfeit goods topped the list with P34.698 billion, followed by various items at P33.443 billion. “In addition to its seizure operations and the disposal of smuggled and perfected goods, the Bureau has undertaken decisive action against individuals involved in illicit trade activities,” Maronilla added. The BOC has revoked the Customs Accreditation of 48 importers and customs brokers found in S “BOC,” A
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PESO EXCHANGE RATES US 58.0990 ■ JAPAN 0.3677 ■ UK 72.5134 ■ HK 7.4709 ■ SINGAPORE 42.5914 ■ AUSTRALIA 36.1899 ■ SAUDI ARABIA 15.4737 ■ EU 60.0802 ■ KOREA 0.0400 ■ CHINA 7.9279 Source: BSP (January 8, 2025)