00:00Despite issues of corruption, the Banco Central ng Pilipinas, or BSP, believes the country's economy remains in good condition.
00:09This statement follows the organization meeting and briefing conducted by the Development Budget Coordination Committee, or DBCC,
00:15on the proposed 2026 National Expenditure Program before the Senate Committee on Finance.
00:20According to the BSP, one strong indicator of this is the country's low inflation rate.
00:25The government aims to maintain inflation within the 2-4% target range by 2026.
00:31The Philippine banking system also remains stable.
00:34Bank assets, deposits, and income continue to grow.
00:37Moreover, banks have exceeded the required capital and liquidity standards.
00:41The country's international reserves are also substantial, amounting to $105 billion.
00:46When it comes to what's called the Greenspan Guidote Rule, that rule says we should hold 100% of short-term debt in the form of international reserves.
00:58In fact, we hold three times that.
01:01In the first half of 2025, the country's revenue efforts stood strong at 16.7%.
01:07Meanwhile, an expenditure-to-GDP ratio of 22.3% was also recorded during the same period.
01:14The fiscal deficit remains manageable and under control.
01:17Tax collection is expected to grow by 10.2% annually from 2025 to 2028.
01:23By 2028, total national revenue is projected to reach nearly 6 trillion pesos.
01:28The Philippine economy has recovered from the effects of the COVID-19 pandemic.
01:32As a result, the country is drawing closer to achieving upper-middle income status.
01:36Investor confidence, particularly among foreign investors, is also growing.
01:41Over the past three decades, foreign direct investments, or FDI, have grown significantly.
01:46Under the proposed 2026 national budget, 16.6% is allocated to the education sector in line with the UNESCO Education 2030 framework.
01:54For 2026, these allocations will translate into concrete action, creating more teaching and non-teaching positions,
02:03delivering more laptops to our teachers, building more school buildings and classrooms,
02:08providing hot meals, establishing more child development centers, and giving scholarships and job opportunities to more students.
02:16The government is also focused on program convergence budgeting to improve spending efficiency and ensure targeted beneficiaries are prioritized.
02:23The Budget Transparency Portal has also been activated, allowing the public to access all documents related to the national budget.
02:31The public is likewise encouraged to send feedback and suggestions to help improve the national budgeting process.
02:37Joshua Garcia from the National TV Network for a new and better Philippines.
