President Ferdinand Marcos Jr. has approved a proposed budget of P6.793 trillion for the fiscal year 2026, as announced by Malacañang on Tuesday, July 15.
The budget aims to enhance the quality of education and improve the living standards of Filipinos.
The government plans to emphasize human capital development, quality education, healthcare, and workforce upskilling in the proposed budget.
The proposed budget accounts for 22% of the country’s Gross Domestic Product (GDP).
This budget proposal marks a 7.4% increase from the P6.3 trillion budget allocated for Fiscal Year 2025.
The administration intends for the budget to address essential sectors while promoting economic stability.
The budget’s approval process continues with further legislative procedures.