Posted: July 31, 2024
The Department of Budget and Management (DBM) officially submitted the proposed PHP6.352 trillion FY 2025 National Expenditure Program (NEP) to Congress in a ceremonial turn-over held at Romualdez Hall, House of Representatives (HREP), Batasan Hills, Quezon City, 29 July 2024.
The proposed budget for next year, themed “Agenda for Prosperity: Fulfilling the Needs and Aspirations of the Filipino People,” is equivalent to 22 percent of the country’s gross domestic product (GDP) and reflects a 10.1 percent increase from the PhP5.768 trillion budget in 2024.
As mandated by the 1987 Constitution, the education sector remains to have the biggest share in the FY 2025 NEP with an allocation of PhP977.6 billion. This is followed by Public Works which is set to receive a substantial allocation of PhP900 billion.
The proposed FY 2025 NEP aims to support the PBBM Administration’s goal of economic and social transformation, building on the progress of the previous two years to foster a prosperous, inclusive, and resilient country and anchored on the three pillars of the Philippine Development Plan (PDP) 2023-2028.
Meanwhile, House Speaker Martin Romualdez assured that the HREP would diligently oversee the spending of these funds so that every peso would be returned to the public through beneficial programs and projects.
Officials and officers of the Presidential Legislative Liaison Office (PLLO) led by Secretary Mark Llandro L. Mendoza participated in the said ceremony.
