Manila: President Ferdinand R. Marcos Jr. said Monday: Foreign-assisted projects should have sufficient funding in the national budget. In Episode 3 of the BBM Podcast, the President revealed that several foreign-assisted projects were stripped of funding during last year’s congressional budget deliberations.
According to Philippines News Agency, the President highlighted that the removal of funding for these projects poses a significant challenge. “Oo, ‘yung pinakamalaking naging problema ‘yung foreign-assisted projects, tinanggal halos lahat nung funding. (The biggest problem was almost all of the funding for foreign-assisted projects was removed),” he stated. He emphasized the importance of reinstating this funding to maintain the nation’s reputation and ensure the continuation of crucial infrastructure projects.
Marcos expressed concern that budget “insertions” have compromised essential infrastructure initiatives and have adversely affected the country’s standing with international financial institutions. Insertions refer to amendments made by lawmakers to the proposed national budget submitted by the Executive branch. He noted that non-priority projects received funding through unprogrammed appropriations, which frequently require borrowing.
The President affirmed his willingness to operate under a reenacted budget rather than approve a General Appropriations bill that diverges from the administration’s priority programs or allows for the misallocation of public funds. “Well, yes. I am willing to reenact the budget if that’s what we’ll have to do. I made New Year’s Day the hard deadline. I’m sure we will find a way,” he asserted.
While acknowledging Congress’ constitutional authority over the budget process, Marcos emphasized that the executive department’s responsibility is to ensure that public funds are used to benefit the populace. According to data from the Department of Economy, Planning and Development, 44 infrastructure projects, primarily in the transportation sector and funded through Official Development Assistance, are currently delayed. Lawmakers have pointed out that these delays result in the government incurring millions of pesos in commitment fees due to undisbursed foreign loans, as the government is obligated to pay fees on unused portions of these loans when projects are postponed.
