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Under sweeping investigation; budget cut P255.5B for 2026; 9,855 projects examined; first criminal trial underway
President Ferdinand Marcos Jr. signed a $115 billion budget on January 5, 2026, while vetoing $1.6 billion in unprogrammed appropriations—slashing discretionary funds to their lowest level since 2019. The veto follows scandal over phantom flood control projects: former lawmaker Zaldy Co admitted to inserting $1.69 billion into the 2025 budget, implicating Marcos's cousin, then-House Speaker Martin Romualdez, in an alleged kickback scheme.
Updated May 19
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