Analysis of government policies, programs, and reforms including economic measures, social welfare initiatives, and regulatory changes
83 articles
The national government's debt grew by ₱217 billion in a single month to end August at a record ₱19.61 trillion, with outlets citing peso weakness as a driver — the same sliding peso that forecasters expect to get worse.
Economists expect September inflation between 6.4 and 7.4 percent as typhoon-hit food supply, costlier fuel and a sliding peso compound — while the BSP's public position remains that it is watching.
Government debt is projected to reach a record ₱21.479 trillion in 2027, with interest eating 15.9 percent of the ₱7.2-trillion budget the House is about to pass on second reading.
After plenary debates covering 240 agencies, the House is set to pass the ₱7.2-trillion 2027 budget on second reading in early October, with leaders pointing to a ₱111.98-billion unprogrammed appropriations line — the lowest proposed share in decades.
The government is forgoing at least ₱700 million a month after President Marcos ordered a fresh suspension of excise taxes on LPG and kerosene amid an energy crisis — reviving a measure that already cost the treasury nearly ₱3 billion earlier this year, this time with no announced expiry.
Eight months into 2026, the national budget gap has widened to ₱1.05 trillion — up 21% year-on-year — pulled by a PhilHealth arrears settlement and bigger transfers to local governments even as tax collections limped along and non-tax revenue dropped 36%.
The Bureau of Internal Revenue released 90.6% more in refunds from January to September than it did over the same period last year, with the commissioner citing cash-flow relief for businesses squeezed by the ongoing energy crisis.
Both downgrades fall short of Manila's own growth target, with S&P delivering the steepest cut among 14 economies it tracked and both institutions flagging the drag from a corruption scandal and a 32% drop in state infrastructure spending.
Weak growth, a widening current account deficit and a central bank pulling back from currency defense are set to push the peso to its weakest level ever in the fourth quarter, according to ANZ Research — with no comment yet from the BSP.
Oil industry sources say pump prices were set to climb sharply this week on tight global crude and shipping markets tied to Saudi-Houthi tensions — wiping out a rollback from three weeks earlier, with no word yet from the Department of Energy on relief for hard-hit drivers.
