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.

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.

Instead of a total veto, Marcos said he removed allocations for certain programs and projects of the Department of Public Works and Highways, "and those under the unprogrammed appropriations, which increased by 300 percent.

Good day. Here are the stories for The Manila Times for Monday, December 31, 2024. Today's episode is brought to you by Wilcon Depot, The Philippines' leading home improvement and construction supplies retailer—your Trusted Building Partner.