2027 Budget in House Seen as 'Politics-Centered,' Watchdog Warns
A budget watchdog warned that the Philippines' proposed 2027 national budget is morphing into a 'politics-centered' spending plan. Lawmakers are accused of channeling funds into projects susceptible to political patronage.
Read up to 3 eligible full articles per Japan day (JST) for free
Create a free account to open up to 3 eligible full articles per Japan calendar day (JST). Headlines and summaries remain available across ASEAN 7.
Related articles
- VP's SALN, tax records show 'gap' in impeachment trial
A Bureau of Internal Revenue (BIR) witness testified in a Philippine impeachment trial that there is a 'gap' between the tax records of Vice President Sara Duterte and her husband, lawyer Manases Carpio, from 2007 to 2025, and her declared net worth in 2025. The couple's total after-tax income exceeding P85 million does not align with the declared amount.
- Philippine Exports Poised to Exceed $100B Driven by Electronics and Minerals
Philippine goods exports are projected to surpass $100 billion this year, propelled by robust demand for electronics and minerals, according to the Philippine Exporters Confederation, Inc. (Philexport). This marks a potential record high.
- Property Development Hit by Inflation, Infrastructure Freeze, Gatchalian Warns
Philippine property development is facing stagnation due to high inflation, a sharp drop in public works spending, and slowing economic growth, warned Senate President Sherwin Gatchalian. GDP growth slowed to 2.3%, public works construction plummeted 32%, and reduced household purchasing power makes consumers hesitant about mortgages.
- Philippine Peso Hits New Record Low of 62.90 to the Dollar
The Philippine peso fell to a new record low on Thursday, closing at 62.90 to the US dollar. Expectations of higher US interest rates strengthened the dollar, accelerating the peso's depreciation to a new all-time low, surpassing the previous record of 62.86 set on September 14.