Good morning, and happy Saturday!

The DBM wants government agencies to spend wisely, not simply spend more. Meanwhile, the peso has hit ₱62.901 per dollar, PEZA is nearing its investment target, and only one in four Filipinos is securely middle class.

Plenty to unpack over your Saturday morning coffee.

Stay Sharp.

What happened: The Department of Budget and Management (DBM) is preparing stricter spending rules. Acting Budget Secretary Kim Robert de Leon warned about year-end parties disguised as government planning sessions.

The shift: De Leon wants agencies judged by results, not spending percentages. Using an entire budget does not automatically mean better public services.

The bigger picture: Around 98% of the proposed ₱7.2-trillion 2027 budget covers recurring requirements. That leaves just 2% for new capital spending.

Why it matters: With limited funds for new projects, every peso counts. The DBM wants to review existing expenses and improve spending discipline.

The goal? Make government agencies prove what taxpayers actually get for their money.

The Philippine Economic Zone Authority approved ₱297.14 billion in investments from January to September 2026, bringing it close to its ₱300-billion annual target. September approvals alone reached ₱80.675 billion across 27 new and expansion projects, up 65.08% year on year. The investments are expected to support job creation, exports and economic activity.

Peso Falls to ₱62.901 per Dollar

The Philippine peso weakened to a fresh record low of ₱62.901 against the US dollar, adding pressure on an economy dependent on imported fuel and other goods. Rising global oil prices and international market uncertainty weighed on the currency. A weaker peso makes dollar-priced imports more expensive, potentially increasing costs for businesses and consumers.

Hog Raisers Seek Pork Import Ban

Philippine hog raisers warned that the local pork industry faces possible collapse and called for a ban on pork imports and higher tariffs. The industry’s appeal reflects concerns over competition from imported meat and the pressure on domestic producers. The policy debate matters for local farmers, pork supply and prices paid by Filipino consumers.

Only One in Four Filipinos Is Securely Middle Class

Only about one in four Filipinos belongs to the economically secure middle class, according to the World Bank, while nearly 28% remain vulnerable to poverty. The bank estimates that reforms could raise the secure middle-class share to 55% by 2040, compared with 43% under a business-as-usual scenario. Better jobs and stronger household protections are key to achieving that goal.

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