THE National Expenditure Program (NEP) for Fiscal Year 2025, amounting to P6.352 trillion, was formally received today (29 July 2024) by leaders of the House of Representatives led by House Speaker Ferdinand Martin Romualdez.
House Appropriations Committee Chairman Rep. Zaldy Co, who joined the Speaker receiving the document, underscored the importance of the NEP, crafted by the Department of Budget and Management (DBM) under Secretary Amenah Pangandaman.
“This proposed budget represents a 10.1 percent increase from the previous year and accounts for 22.0 percent of our Gross Domestic Product. It is a testament to our collective resolve to foster economic growth, social progress, and resilience among our people,” said Co.
He stressed that the 2025 budget proposal is not merely a financial plan but a strategic roadmap aligned with the Philippine Development Plan 2023-2028. It focuses on enhancing the welfare of individuals and families, transforming production sectors to create high-quality jobs, and nurturing a supportive environment for institutions and natural surroundings, he added.
In evaluating the budget proposal, Co said Congress will consider several key elements, including the availability of fiscal resources, the readiness of programs and projects for execution, agencies’ capacity to absorb funds, and alignment with spending priorities. “We must ensure that every peso is directed towards initiatives that will uplift the lives of our fellow Filipinos, improve our infrastructure, strengthen our educational and healthcare systems, and secure our nation’s future,” he stressed.
Rep. Co called upon his colleagues to uphold principles of transparency, accountability, and fiscal responsibility throughout the budget deliberation process. “It’s crucial that we examine each allocation meticulously to ensure the most effective use of our resources,” he stated.
The NEP’s turnover signals the start of rigorous budget discussions aimed at addressing the nation’s most pressing needs and aligning with the vision of President Ferdinand Marcos, Jr. for a prosperous Philippines. “The road ahead is full of challenges, but with this proposed budget, we have a robust framework to guide our efforts,” Co remarked.
The Bicolano solon expressed gratitude to Secretary Pangandaman and the DBM team for their dedication in preparing the NEP. He said looks forward to collaborative efforts in turning this financial blueprint into reality.
