tekkenarcademachine|Philippines to allocate 875 mln USD for military modernization plan in 2025

MANILAtekkenarcademachine, Aug. 18 (Xinhua) -- The Philippines will allocate 50 billion pesos (875 million U.S. dollars) to fund the modernization program of the Armed Forces of the Philippines (AFP) in 2025tekkenarcademachine, a member of the House of Representatives said Sunday.

In the 2025 national budget, the sum of 50 billion pesos in capital outlays has been earmarked to be used exclusively to support the funding requirements of the AFP's ongoing modernization projects, Representative Johnny Pimentel said.

"This amount is 25 percent, 10 billion pesos (175 million dollars) higher than the appropriation for acquiring and upgrading military hardware and systems in the 2024 budget," Pimentel said.

Last month, the Department of Budget and Management (DBM) submitted the proposed 2025 budget, or national expenditure program, to the House of Representatives for scrutiny.

The proposed 2025 budget amounts to 6.352 trillion pesos (111 billion dollars), equivalent to 22 percent of the gross domestic product and 10.1 percent higher than the 2024 national budget.

The House of Representatives and the senate will scrutinize the proposed 2025 budget before Philippine President Ferdinand Romualdez Marcos signs the bill into law.■