Senate starts 2025 national budget deliberations

FILE PHOTO: The Senate begins its 2025 national budget deliberations with a briefing by the Development Budget Coordination Committee (DBCC) on Tuesday, August 13, 2024. Newly-elected chairperson of the Senate committee on finance Sen. Grace Poe spearheaded the discussion on the proposed P6.352 trillion national budget for next year. (Bibo Nueva España/Senate PRIB)

MANILA, Philippines — The Senate began its 2025 national budget deliberations with a briefing by the Development Budget Coordination Committee (DBCC) on Tuesday.

Newly elected chairperson of the Senate committee on finance Sen. Grace Poe, spearheaded the discussion on the proposed P6.352 trillion national budget for next year.

“Today’s hearing aims to shed light on how the budget aligns with our macroeconomic objectives and its anticipated effects across different sectors of our society,” Poe said in her opening remarks.

According to her, the proposed fiscal plan serves as a financial blueprint designed to drive economic growth and social advancement in the country.

“As the voice of the Filipino people, we will ensure that the budget reflects our collective priorities and meets the diverse needs of our citizens. Through the power of the purse, we guarantee transparency, accountability, and prudent resource management,” she added.

Poe emphasized that it is the chamber’s duty to “shape a budget” that translates into meaningful advancement for all.

Joining her in the DBCC briefing were officials of the Department of Budget and Management, Department of Finance, National Economic and Development Authority, Office of the President, and Bangko Sentral ng Pilipinas.

Earlier, House committee on appropriations chairperson Ako Bicol party-list Rep. Elizaldy Co said the DBCC would provide reasons for the Executive Branch’s proposal of a P6.352 trillion national budget for 2025, as well as explain how government programs can be funded despite limited resources.

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“The [DBCC] plays a pivotal role in crafting this budget. The DBCC’s expertise and insights are instrumental in the decisions we will make to shape a realistic budget. As we discuss details of the proposed allocations, we must recognize the thorough analysis and careful planning undertaken for each line item,” Co previously said.

The House of Representatives began its committee-level deliberations on the proposed 2025 national budget of P6.3 trillion last August 5.

Poe earlier announced that the marathon budget hearings at the Senate would run from August 15 to October 18.

According to Poe, they are aiming to submit the committee report on the 2025 national budget and have it approved by President Ferdinand Marcos Jr. within the first week of December.

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The 2025 national budget is deemed an “election budget” since a midterm poll is set for next year. Will this pose a big challenge for Poe?

“It’s always a challenge handling the budget,” the senator said in a text message to reporters.

“The money we will allocate comes from the hard work and tax contributions of our countrymen. We need to ensure that we are responsive to the needs of our people, handle the budget equitably, especially given our limited fiscal space, and with full transparency,” she also said.