Philippines’ Marcos proposes $117B budget for 2027 to drive sustainable growth

In his budget message to the 20th Congress, Marcos described the proposed spending package as a “prudent and forward-looking investment” aimed at sustaining economic growth and strengthening the country’s resilience amid global uncertainties, according to the Philippine News Agency (PNA).

“Amid continuing global uncertainties -- including geopolitical tensions, persistent inflationary pressures, and volatile energy prices -- we remain steadfast in pursuing growth that is both resilient and fiscally responsible,” Marcos said.

The proposed budget would prioritize strategic infrastructure, human capital, food and energy security, and social protection, while strengthening transparency and accountability in public spending.

Marcos said the final proposal was significantly lower than the 11.69 trillion pesos initially sought by government agencies.

He said agencies had been instructed to prioritize measurable outcomes, eliminate inefficient spending and ensure that public funds produced “meaningful and lasting value.”

The spending plan is anchored in the Philippine Development Plan 2023–2028 and the country’s long-term Ambisyon Natin 2040 vision.

Marcos said the budget also aims to modernize public institutions, improve productivity, attract investment, create quality jobs and deliver more responsive public services.