Lagman Opposes House Bill 4058, Citing Concerns Over Unprogrammed Appropriations and Debt
Tabaco City, Philippines – In a statement released today, Representative Cielo Krisel B. Lagman of the 1st District of Albay voiced her opposition to House Bill 4058, also known as the General Appropriations Bill for Fiscal Year 2026. Despite acknowledging some budgetary reforms within the bill, Lagman expressed deep reservations regarding unprogrammed appropriations and the nation’s growing debt.
Lagman stated, "I vote 'No' to House Bill 4058 despite some budgetary reforms, both procedural and substantive, that we have adopted which I hope will be sustained and improved in succeeding Congresses."
Her primary concern revolves around the "continuing presence of unprogrammed appropriations." Lagman fears the potential for abuse and indicated a preference for scrapping such appropriations altogether. She stipulated that she would only consider endorsing unprogrammed appropriations if stringent measures are implemented to prevent malpractices, such as arbitrary fund insertions. Additionally, she emphasized that these appropriations should be reserved for critical social and economic services, and their amount should not exceed that outlined in the National Expenditure Program (NEP) for fiscal years 2024 and 2025.
Lagman also highlighted the significant portion of the proposed 2026 budget allocated for debt service, which amounts to nearly one trillion pesos. She lamented that this sum, earmarked for debt, could instead be used to construct and repair classrooms, as well as support nutrition and health programs.
"It is worrisome to note that the 2026 debt service appropriation is only for interest payments," Lagman stated. She further explained that the country must make principal payments exceeding one trillion pesos, sourced from domestic and foreign borrowings in 2026. To address a budget deficit of over P1.6 trillion, borrowings must exceed P2.6 trillion.
Lagman warned that extricating the country from its national debt, which stood at P17.47 trillion as of August 2025, would be a Herculean task.
In closing, she reiterated her "No" vote to House Bill 4058.
|Nel Adtoon, Simpleng Duon, Bicol Net TV maestroneladtoon@gmail.com
Comments
Post a Comment