Hanoi (VNA) - Philippine President Ferdinand Romualdez Marcos Jr. on December 30 signed into law the national budget worth 6.33 trillion PhP (109.3 billion USD) for 2025, 9.7% higher than the 2024 budget.
In his speech during the signing ceremony, Marcos emphasised that the budget reflects the government's collective commitment to transforming economic gains into long-term growth and the goal of uplifting the lives of Filipinos.
The budget is designed not just to address present needs but to sustain growth and uplift the lives of generations in the future, he stated, adding that the 2025 national budget underscores his administration's commitment to social services, education, and health while addressing the critical infrastructure development and supporting agricultural development.
In early December, the government forecast the Southeast Asian nation's GDP to expand by 6-6.5% in 2024 amid the most uncertain economic environment at home and abroad. It also widened the GDP target band for 2025 to range between 6 and 8%./.
