AFTER a comprehensive review with the country’s economic managers, President Ferdinand “Bongbong” Marcos Jr. signed the proposed national budget for fiscal year 2025 into law on Monday.
The signing ceremony was held at the Ceremonial Hall of Malacañang Palace and was attended by lawmakers and key government officials.
In his statement, Marcos revealed that he vetoed over P194 billion worth of items in the proposed budget.
A key point of contention raised by Congress was the P26 billion funding for the Ayuda sa Kapos ang Kita Program (AKAP), the reduction in the Department of Education’s (DepEd) budget, and the zero subsidy for the Philippine Health Insurance Corporation (PhilHealth).
The budget cuts for DepEd were made despite a provision in the 1987 Constitution that mandates the state to give the highest priority to education in its budget.
Regarding PhilHealth, Senate Finance Committee Chairperson Grace Poe had previously disclosed that the state insurer would receive no subsidy in the proposed 2025 budget, pointing out that PhilHealth still holds P600 billion in reserve funds.
Marcos assured that PhilHealth has enough funds to continue providing health services despite the removal of its government subsidy.
Malacañang emphasized that the President was carefully reviewing the General Appropriations Bill to ensure it aligns with the Philippine Constitution. Executive Secretary Lucas Bersamin earlier stated that certain provisions of the national budget would be vetoed in the interest of public welfare and fiscal responsibility.
Concerns over the final version of the 2025 General Appropriations Bill were raised, as it was discussed only by the chairpersons of the Senate Committee on Finance and the House Committee on Appropriations during the bicameral conference.