SENATE President Win Gatchalian on Friday called for stricter fiscal discipline and greater transparency in government spending as the country’s outstanding debt reached a record high in July.
Gatchalian said the rising debt level underscored the need to ensure that government borrowings bring long-term and tangible benefits for the economy and the people.
He urged government agencies responsible for generating revenues to meet collection targets, while calling for stronger mechanisms to prevent revenue leakages.
Gatchalian’s statement came as Congress begins scrutinizing the proposed P7.2-trillion national budget for 2027, with lawmakers facing the challenge of balancing spending requirements against the government’s growing debt obligations.
He said the Senate will push for stronger transparency and accountability provisions in the proposed budget to close loopholes that could lead to corruption and ensure that public funds are used efficiently.
It is the Senate’s “responsibility to the next generation to ensure that the funds we borrow today do not become a heavy financial burden that they will have to pay in due course,” he said.
The Bureau of the Treasury has reported continued increases in the national government’s outstanding debt, driven largely by domestic and foreign borrowings used to limit the budget deficit and other government requirements.
The debt situation has become a key consideration in the deliberations on the 2027 budget as the government seeks to sustain spending on infrastructure, social services, and economic programs while maintaining fiscal stability.
