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Elizaldy 'Zaldy' Co

Elizaldy 'Zaldy' Co

Former AKO Bicol Party-List Nominee and House Budget Committee Chairman

Appears in 1 story

Notable Quotes

The directive to include about P100 billion, largely for flood control projects, came from President Bongbong Marcos and former House Speaker Martin Romualdez.

I received nothing from the budget insertions.

Stories

Philippines slashes discretionary spending amid flood control scandal

Rule Changes

Fugitive abroad with active arrest warrant; first criminal case filed at Sandiganbayan November 2025

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 move follows months of scandal after former lawmaker Zaldy Co admitted to inserting $1.69 billion in phantom flood control projects into the 2025 budget, implicating Marcos's own cousin, then-House Speaker Martin Romualdez, in an alleged kickback scheme. Co remains at large abroad while seven of sixteen co-accused in the first criminal case are now in custody. In early January 2026, eight DPWH officials pleaded not guilty at their Sandiganbayan arraignment for graft charges over a $4.9 million ghost project.

Updated Jan 5