President Ferdinand "Bongbong" R. Marcos Jr. on Monday signed into law the P6.326 trillion national budget for 2025. Marcos signed the budget in a ceremony in

President Ferdinand "Bongbong" Marcos Jr. released a statement on Tuesday after he vetoed over P194 billion worth of line items in the P6.326-trillion budget for 2025. "The aim of this Administration in our Medium-Term Fiscal Program is to ensure that government targets will respond more directly to the needs of the Filipino people as strategic growth-enhancing fiscal consolidation is pursued,

President Ferdinand Marcos Jr. on Monday signed the Philippines’ 6.3 trillion peso ($109 billion) budget for 2025 after vetoing some public works and standby funding.Most Read from BloombergMigrant Crisis Pushed US Homelessness to Record High in 2024Marcos said he used his veto powers on 194 billion pesos of allocations after a thorough review of the spending bill approved by Congress.

Instead of a total veto, Marcos said he removed allocations for certain programs and projects of the Department of Public Works and Highways, "and those under the unprogrammed appropriations, which increased by 300 percent.

Philippine President Ferdinand Marcos Jr. signed the 2025 budget into law on Monday, saying a planned 10% increase in government spending to a record 6.33 trillion pesos ($109.2 billion) would support economic growth and reduce poverty.

President Ferdinand R. Marcos Jr. on Monday signed into law the 2025 national budget and vetoed over PHP194 billion in line items he deemed inconsistent with his administration’s priorities. In his speech,