Gatchalian pushes for stimulus-oriented 2027 budget
Senate President Sherwin Gatchalian on Friday urged that the proposed PHP7.2-trillion national budget for 2027 be designed to stimulate economic activity and help the Philippines withstand global and domestic challenges, including persistently high petroleum prices and the threat of a severe El Niño.
The Department of Budget and Management (DBM) has proposed a PHP7.2-trillion national budget for 2027, up 6 percent from this year's PHP6.793 trillion. The proposed spending plan is equivalent to 21.7 percent of the gross domestic product (GDP).
Budget priorities amid fiscal pressures
In a statement, Gatchalian emphasized that next year's spending plan should counteract global financial headwinds and manage ballooning debt. "Our national budget for next year should help stimulate economic activities to counteract global and domestic challenges, including the need to manage ballooning debt," he said.
The Senate is expected to begin deliberations on the proposed budget in the coming months. Gatchalian acknowledged that the chamber faces a demanding schedule as it also prepares for impeachment proceedings against Vice President Sara Z. Duterte. Despite the added workload, he assured the public that the Senate would adjust its schedule to ensure timely review of the proposed spending measure.
Scrutiny and prudent use of funds
Gatchalian said the Senate would thoroughly scrutinize the proposed budget to ensure prudent use of public funds. "Aside from prioritizing programs that will improve the quality of life of our countrymen like infrastructure, education and health, we also need to ensure that our national budget for next year will not be misused and used only for the benefit of our fellow Filipinos," he said in Filipino.
