MANILA — President Ferdinand “Bongbong” Marcos Jr. has raised alarm over the removal of funds for foreign-assisted projects during last year’s budget deliberations, warning that such actions could damage the Philippines’ international reputation and derail crucial infrastructure development.
In Episode 3 of the “BBM Podcast,” Marcos disclosed that funding for several foreign-funded programs was slashed in Congress, potentially endangering the country’s standing with international financial institutions.
“Oo, ‘yung pinakamalaking naging problema ‘yung foreign-assisted projects, tinanggal halos lahat nung funding,” he said. “Kailangan natin ibalik ‘yun dahil importante ‘yung mga foreign-assisted projects. At saka sinisira pati ‘yan ang reputation natin.”
He pointed out that budget “insertions” — amendments made by lawmakers — had led to the displacement of high-priority infrastructure initiatives in favor of non-priority projects, some of which were relegated to the unprogrammed fund category. These appropriations are dependent on external borrowing and lack assured funding.
“Well, yes. I am willing to reenact the budget if that’s what we’ll have to do. I made New Year’s Day the hard deadline. I’m sure we will find a way,” Marcos said, emphasizing the administration’s resolve to safeguard its spending priorities.
While acknowledging Congress’ constitutional power over the national budget, the President emphasized the executive branch’s duty to ensure that public funds are used wisely and serve the people.
According to the Department of Economy, Planning and Development, 44 infrastructure projects—mostly transportation-related and backed by Official Development Assistance (ODA)—are currently delayed. Legislators have flagged that despite the lack of progress, the government continues to pay millions in commitment fees on undisbursed foreign loans.
The situation, Marcos implied, calls for a return to discipline and strategic planning in budget legislation to avoid further financial losses and reputational damage./PN
