By Ruth Abbey Gita-Carlos | Philippine News Agency
The Cabinet on Friday approved the proposed 2027 National Expenditure Program (NEP) presented by the Department of Budget and Management during a meeting presided over by President Ferdinand R. Marcos Jr. at Malacañan Palace.
In a statement, Presidential Communications Office Acting Secretary Dave Gomez said details of the proposed spending plan, including its total amount, would be disclosed once Marcos formally submits the budget proposal to Congress in accordance with budget process.
“The Cabinet discussed and approved the 2027 National Expenditure Program as presented by the DBM,” he said.
“On the total amount and other details, we do not want to pre-empt the President’s budget submission to Congress.”
The NEP is the national government’s proposed budget for the next fiscal year and serves as the basis of Congress in crafting the General Appropriations Bill, which then becomes the General Appropriations Act once signed into law by the President.
The spending plan includes the planned government expenditure for the succeeding fiscal year, as well as the allocated funds for different programs and initiatives.
Based on National Budget Memorandum 158 issued by the DBM on June 25, the Marcos Jr. administration is eyeing a P7.2-trillion national budget for 2027, which is equivalent to 21.7% of the country’s gross domestic product (GDP).
The proposed budget for 2027 is higher by 6% or P407 billion than the P6.793 trillion national budget for 2026.
