Metro Manila (CNN Philippines, June 2) — Acting Budget department chief Tina Canda on Thursday said the next administration would have to deal with meager resources, but she was confident the current budget could be tweaked depending on the programs the Marcos government wants to prioritize.
She suggested delaying non-urgent programs, such as building new offices or holding trainings.
“The problems we are facing (problems) mainly of resources for 2023 kasi medyo tight,” she said in the government-led Laging Handa briefing. “Maaaring i-cut iyon, ‘yung mga gastusing ganon.”
[Translation: We are facing problems mainly of resources for 2023 because the budget is a bit tight. We can cut down on those kinds of expenses.]
Last month, the Department of Budget and Management urged the incoming administration of Ferdinand “Bongbong” Marcos Jr. to observe the spending plan cap of ₱5.268 trillion pegged by current economic managers for next year if it wants to keep the country’s finances in check. The agency said it might be challenging but it must be maintained at that level if the Philippines wants to be respected in the international financial community.
Meanwhile, Canda said Filipinos need not worry after the country’s total debt hit a new high of ₱12.76 trillion as of end-April — higher by 16.1% year-on-year. She said the loans, which were mostly used to address the COVID-19 pandemic, were still manageable.
She said it could be managed by further easing lockdowns to spur spending and strengthening tax collections.
“Ang ating economic managers siniguro na ang kinuha nating utang ay risonable at hindi sa hindi natin kakayanin in the future,” she said.
[Translation: Our economic managers made sure that our debts are reasonable and something that we can handle in the future.]
The Duterte administration’s economic managers have turned over reports detailing programs, pending legislative agenda, and possible chokepoints, among other information, to their successors.
CNN Philippines correspondent AC Nicholls contributed to this report.
