Philippine President Ferdinand Marcos Jnr on Monday signed into law the 2026 budget worth 6.793 trillion pesos (US$115 billion) as his administration aims to revive an economy stunted by a government corruption scandal.
While the 2026 budget was 7 per cent higher than last year’s spending plan, the president cut nearly US$1.6 billion in so-called unprogrammed appropriations that are historically prone to corruption.
Marcos approved the 2026 budget later compared to previous years, as allocations…
Philippines’ Marcos slashes ‘back door’ budget allocations amid flood control scandal
