Ex-DOF Chiefs Urge Marcos to Ensure Clean 2027 Budget, Curb Pork Barrel

MANILA, Philippines — Former finance chiefs have urged President Marcos to keep the 2027 national budget clean and transparent, free from congressional insertions, and to exercise his veto power more rigorously. Benjamin Diokno, a Monetary Board member and former finance secretary, stated that Marcos must send a strong signal to both supporters and critics: “This is my budget. Don’t mess with this budget. I want this to be a clean and transparent budget.” The government is proposing a record P7.2-trillion national budget for the upcoming year, a six percent increase from the current P6.793 trillion allocation. Diokno highlighted that congressional increases to the budget in recent years have become “the source of corruption,” and encouraged the President to use his “awesome power” of the line-item veto, noting that even the US president does not possess such a power. Diokno also warned that the expanded National Tax Allotment, which is now 40 percent of national tax collections, remains underutilized by local government units (LGUs). He described the Local Government Support Fund as having become a form of “pork barrel,” citing examples where LGUs fail to spend their own budget on capital projects, waiting instead for assistance from congressmen or senators. Regarding the economy, Diokno expressed that the state of the economy is “very uncertain,” and the previously projected growth of 6.5 to eight percent is no longer feasible, with current trajectories suggesting a growth of perhaps five to six percent. He added that sustained growth at this rate for the next 20 years would be sufficient. He remains optimistic that the government’s revised growth target of 3.5 to 4.5 percent for 2026 is achievable, especially with the expectation of the US-Iran war soon concluding. In a separate interview with “MoneyTalks” on One News, Gary Teves, finance secretary during the Arroyo administration, urged Marcos to scrutinize insertions during the legislative process and monitor implementation closely. “When the budget is approved by Congress, scrutinize it very carefully and ensure that there are not too many inserted items there. And to the extent that they might do that, then exercise his veto powers more rigorously,” Teves advised. He also stressed the importance of rigorous monitoring of spending and spending more time in the provinces to ensure the budget is being followed carefully during its implementation. Source: Philstar Nation