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Workers continue a dike construction in Guinobatan, Albay on June 16, 2023. Workers rush to complete a section of the dike as they anticipate possible lahar flow from Mayon Volcano.   

Jonathan Cellona, ABS-CBN News

Article (news)

MAYON ERUPTION

RG Cruz

ABS-CBN News

<p>MANILA - The 2025 budget will have over a quarter of a trillion pesos allotted for flood control, according to the proposal submitted by the Department of Budget and Management.</p><p>&quot;The water resources development and flood control sub-sector is provided P257.06 billion largely attributed to the DPWH&#x27;s Flood Management Program (P254.29 billion) that will construct and maintain flood mitigation structures and drainage systems,&quot; according to the National Expenditure Program.</p><p>It also states that for next year,  a budget of P861.24 billion is proposed for the communications, roads, and other transport sub-sectors, mainly for infrastructure projects. </p><div><iframe width="640" height="360" src="https://www.youtube.com/embed/phP1IMGq4QQ" title="Smart tunnel, stormwater management keys to prevent severe flooding: architect | (31 July 2024)" frameBorder="0" allowfullscreen=""></iframe></div><p>Meanwhile, the debt burden or payments to creditors (i.e., interest payments and net lending) are allocated P876.73 billion or 13.8 percent of the 2025 proposed spending program.</p><p>For interest payments alone, P848.03 billion will be allocated for creditors, reflecting a P177.56 billion increase from the 2024 level. </p><p>The Philippines&#x27; sovereign debt hit P15.35 trillion as of end-May, according to the Bureau of Treasury.</p><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/nAQLlwq5VVA?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div><p>Around P330.4 billion was added to the country&#x27;s total debt in May from April as the Philippine peso weakened against the US dollar, Treasury said. </p><p>Of the total debt stock, 31.96 percent is external debt, while 68.04 percent is domestic debt.</p><p>The money for debt payments in the 2025 budget is also higher than the amount set aside for national defense, which is P419.3 billion. But this defense budget is still higher by 50.75 percent over last year&#x27;s defense budget as the country aims to strengthen our defense capabilities.</p><div><br/></div><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/XeQvDsKTRTg?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div>

<p>The 2025 budget will have over P257 billion allotted for flood control, but debt payments will take a bigger slice than infrastructure. </p>

The 2025 budget will have over P257 billion allotted for flood control, but debt payments will take a bigger slice than infrastructure.

Flood control gets P257 billion budget for 2025

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Flood control gets P257 billion budget for 2025

RG Cruz,

ABS-CBN News

Published July 29, 2024 04:38 PM PHT

|

Updated July 31, 2024 09:20 AM PHT

Read More:

2025 budget

national budget

National Expenditure Program

flood control

debt payments

national defense

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