The Philippines will operate on a reenacted budget in the first few days of 2026 as President Ferdinand Marcos Jr. seeks to sign the spending bill in the first The Philippines will operate on a reenacted budget in the first few days of 2026 as President Ferdinand Marcos Jr. seeks to sign the spending bill in the first

Bicam report on 2026 budget signed, ratification next

2025/12/28 17:55

MANILA, Philippines – The bicameral conference committee report on the disagreeing provisions of the 2026 national budget was finalized on Sunday, December 28, after representatives from the House and the Senate signed the document that will be separately ratified by both chambers of Congress on Monday, December 29.

Sunday’s meeting marked the culmination of this year’s bicam deliberations, which were streamed for the first time in the wake of amplified calls for greater transparency in the budget process.

The public nature of the deliberations exposed the public to negotiations that were once held behind closed doors, including government agencies such as the Department of Transportation, Department of Public Works and Highways, and Department of Agriculture making last-minute appeals to increase their funding.

The bicameral conference committee approved a higher 2026 budget for social amelioration program Assistance to Individuals in Crisis Situations or AICS, which critics believe promotes patronage politics.

The bicam delegates also gave the Marcos administration P243 billion in unprogrammed appropriations, which are standby funds that have been derided for supposedly enabling discretionary spending in the executive and in Congress.

“This budget was painstakingly put together by the House of Representatives and the Senate, and we did everything to make it transparent and accountable,” House appropriations committee chair Mika Suansing said in Filipino on Sunday afternoon.

“This is the first time we are doing this, that the reconciled enrolled copy has already been printed and shown to our colleagues so they can see what we agreed on,” Senate finance committee chair Win Gatchalian added. “The reconciled version will be uploaded to our transparency portals after it is ratified tomorrow.”

Acting Executive Secretary Ralph Recto previously said that President Ferdinand Marcos Jr. will sign the 2026 budget in the first week of January, which means that the government will be operating on a reenacted budget when the Philippines welcomes the new year. – Rappler.com

Market Opportunity
Sign Logo
Sign Price(SIGN)
$0.03772
$0.03772$0.03772
-0.39%
USD
Sign (SIGN) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

R. Kiyosaki sets date when silver will hit $200

R. Kiyosaki sets date when silver will hit $200

The post R. Kiyosaki sets date when silver will hit $200 appeared on BitcoinEthereumNews.com. Financial educator Robert Kiyosaki believes the ongoing silver momentum
Share
BitcoinEthereumNews2025/12/28 20:30
Why Crypto Markets May Mature by Early 2026

Why Crypto Markets May Mature by Early 2026

The post Why Crypto Markets May Mature by Early 2026 appeared on BitcoinEthereumNews.com. Coinbase has outlined a forward-looking view of the crypto market, arguing
Share
BitcoinEthereumNews2025/12/28 20:26
Fed Makes First Rate Cut of the Year, Lowers Rates by 25 Bps

Fed Makes First Rate Cut of the Year, Lowers Rates by 25 Bps

The post Fed Makes First Rate Cut of the Year, Lowers Rates by 25 Bps appeared on BitcoinEthereumNews.com. The Federal Reserve has made its first Fed rate cut this year following today’s FOMC meeting, lowering interest rates by 25 basis points (bps). This comes in line with expectations, while the crypto market awaits Fed Chair Jerome Powell’s speech for guidance on the committee’s stance moving forward. FOMC Makes First Fed Rate Cut This Year With 25 Bps Cut In a press release, the committee announced that it has decided to lower the target range for the federal funds rate by 25 bps from between 4.25% and 4.5% to 4% and 4.25%. This comes in line with expectations as market participants were pricing in a 25 bps cut, as against a 50 bps cut. This marks the first Fed rate cut this year, with the last cut before this coming last year in December. Notably, the Fed also made the first cut last year in September, although it was a 50 bps cut back then. All Fed officials voted in favor of a 25 bps cut except Stephen Miran, who dissented in favor of a 50 bps cut. This rate cut decision comes amid concerns that the labor market may be softening, with recent U.S. jobs data pointing to a weak labor market. The committee noted in the release that job gains have slowed, and that the unemployment rate has edged up but remains low. They added that inflation has moved up and remains somewhat elevated. Fed Chair Jerome Powell had also already signaled at the Jackson Hole Conference that they were likely to lower interest rates with the downside risk in the labor market rising. The committee reiterated this in the release that downside risks to employment have risen. Before the Fed rate cut decision, experts weighed in on whether the FOMC should make a 25 bps cut or…
Share
BitcoinEthereumNews2025/09/18 04:36