Magandang umaga po sa inyong lahat.

We are happy to announce that the President just signed into law the PHP 6.326 trillion National Budget for 2025, which we have carefully studied line by line.

This is the government’s most powerful tool to deliver the biggest growth and economic benefits for the Filipino people for next year.

Makakasiguro po ang taumbayan na kami sa Department of Finance, lalo pa naming pag-bubutihin ang aming trabaho para mapondohan ang mga proyekto at programa sa ilalim ng ating national budget.

To put it into perspective, the 2025 national budget, as I said earlier, stands at PHP 6.326 trillion. Of which, only PHP 4.64 trillion are supportable by revenues.

Ibig sabihin, sa susunod na taon, ang gastusin ng gobyerno ay aabot sa PHP 17.33 bilyon kada araw. But only PHP 12.72 billion per day will be financed by revenue collections. Every 24 hours.

Kaya naman, sa laki po ng aming responsibilidad, bente kwatro oras din magtatrabaho ang DOF para matugunan ang ating pangangailangan. At titiyakin namin na ang bawat sentimo ay mapupunta sa tamang proyekto at programa para sa bayan.

Next year, we will strive to not just meet but exceed our revenue targets to generate more resources—just as our strong fiscal performance this year has demonstrated.

I am happy to announce that total revenue collection for 2024 is expected to reach PHP 4.42 trillion, surpassing the full-year target of PHP 4.27 trillion.

As a percentage of GDP, the emerging revenues will climb to 16.7%, the highest in the last 27 years.

And our emerging non-tax revenues for 2024 are expected to reach PHP 606.6 billion—the highest ever recorded.

These are all because of the hard work and contribution of the Bureau of Internal Revenue, the Bureau of Customs, the Bureau of the Treasury, our Privatization team, and our GOCCs.

So rest assured, we will work doubly hard to sustain this momentum and adhere to our Medium Term Fiscal Program that reduces our deficit and debt gradually in a realistic manner; while creating more jobs, increasing our people’s incomes, and decreasing poverty in the process.

And on behalf of the economic team, we assure you that from here on, things will just get better — because you have a government that works non-stop to deliver the benefits that will keep us progressing as a nation every day.

Maraming salamat po. Mabuhay ang Bagong Pilipinas. Manigong Bagong Taon sa inyong lahat!