DOF Pledges Efficient Funding for PHP 6.3T Budget

The Department of Finance (DOF) has vowed to work tirelessly to fund the PHP 6.326 trillion national budget for 2025, which it described as the government’s most potent tool for delivering economic benefits to Filipinos.

Finance Secretary Ralph G. Recto underscored the DOF’s commitment to mobilize resources efficiently to support the budget, which is 9.7% higher than 2024’s allocation and represents 22% of the projected Gross Domestic Product (GDP).

“Makakasiguro po ang taumbayan na kami sa Department of Finance, lalo pa naming pag-bubutihin ang aming trabaho para mapondohan ang mga proyekto at programa sa ilalim ng ating national budget,” Recto said during the press conference following the ceremonial signing of the 2025 General Appropriations Act (GAA).

Signed into law on December 30, 2024, the budget focuses on three pillars of the Philippine Development Plan 2023-2028: protecting individuals and families, transforming production sectors to generate quality jobs, and fostering a supportive environment for economic growth.

President Ferdinand R. Marcos Jr. hailed the budget as a reflection of the government’s commitment to turning economic gains into tangible benefits.

“This budget reflects our collective commitment to transforming economic gains into meaningful outcomes for every Filipino,” Marcos said.

The 2025 GAA also emphasizes sustainability, scaling up green investments and ensuring disaster-resilience in line with the National Climate Change Action Plan.

To align with priority programs, the Executive Branch vetoed over PHP 194 billion in line items and imposed conditional implementation on specific provisions to ensure funds are used effectively.

The DOF faces the challenge of generating PHP 12.72 billion in daily revenues to cover the budget, as only PHP 4.64 trillion of the PHP 6.326 trillion is revenue-supportable.

“Kaya naman, sa laki po ng aming responsibilidad, bente kwatro oras din magtatrabaho ang DOF para matugunan ang ating pangangailangan,” Recto said.

The Finance Secretary noted that the government exceeded revenue targets in 2024, collecting PHP 4.42 trillion, or 16.7% of GDP—the highest in 27 years.

Emerging non-tax revenues for 2024 also reached a record-high PHP 606.6 billion, driven by the efforts of agencies such as the Bureau of Internal Revenue, the Bureau of Customs, and the Bureau of the Treasury.

Recto reaffirmed the government’s adherence to the Medium-Term Fiscal Program, which seeks to gradually reduce deficit and debt while creating jobs, boosting incomes, and reducing poverty.

“Titiyakin namin na ang bawat sentimo ay mapupunta sa tamang proyekto at programa para sa bayan,” Recto said.