Philippine President Ferdinand Marcos Jr. signed the 2025 budget into law on Monday, saying a planned 10% increase in government spending to a record 6.33 trillion pesos ($109.2 billion) would support economic growth and reduce poverty.

President Ferdinand Marcos Jr. on Monday signed the Philippines’ 6.3 trillion peso ($109 billion) budget for 2025 after vetoing some public works and standby funding.Most Read from BloombergMigrant Crisis Pushed US Homelessness to Record High in 2024Marcos said he used his veto powers on 194 billion pesos of allocations after a thorough review of the spending bill approved by Congress.

AKAP fund, zero PhilHealth subsidy retained MANILA, Philippines — Citing the need to focus on development priorities and heed public clamor, President Marcos vetoed more than P194 billion worth of items in the 2025 national budget that he signed into law yesterday,

PRESIDENT Ferdinand Marcos Jr. on Monday signed the P6.326-trillion national budget for 2025 but vetoed P194 billion worth of line items that he deemed 'inconsistent with the administration's priority programs.