SENATE President Win Gatchalian said the country’s national budget for next year should help stimulate economic growth amid global financial headwinds, including persistently high petroleum prices and the threat of a severe El Niño.
The Department of Budget and Management (DBM) has proposed a P7.2 trillion national budget for 2027, up six percent from this year’s P6.793 trillion and equivalent to 21.7 percent of gross domestic product or GDP.
“Our national budget for next year should help stimulate economic activities to counteract global and domestic challenges, including the need to manage ballooning debt,” said Gatchalian, who spearheaded legislation of this year’s national budget.
Even as he highlighted the need for a stimulus-oriented budget, the Senate President emphasized that the Senate will thoroughly scrutinize the proposed budget to ensure that every peso counts.
As chair of the Senate Committee on Finance last year, Gatchalian pushed for landmark budgeting reforms that include provisions ensuring transparency and accountability.
“Aside from prioritizing programs that will improve the quality of life of our countrymen such as infrastructure, education and health, we also need to ensure that next year's national budget is not abused and is only used for the welfare of our countrymen,” he added.
