August 5, 2024

Philippine agriculture to potentially get lower fund allocation

The Philippines' agriculture sector may get lower allocation under a record ₱6.352 trillion (US$109 billion) National Expenditure Program (NEP) for 2025, compared to other sectors, specifically, education and transport.

The Department of Budget and Management (DBM) was to submit on July 29 the proposed ₱6.352-trillion 2025 budget to the House of Representatives as the Philippine government moves to finance its priority programmes and achieve its macroeconomic targets.

The combined budget proposal of the Department of Agriculture, its attached corporations, and the Department of Agrarian Reform has been slashed by 4.7% to ₱211.3 billion (US$3.6 billion) versus this year's GAA of ₱221.7 billion (US$4 billion).

- Philstar