Finance Secretary Ralph G. Recto vowed to guard every taxpayer’s money as he reaffirmed the Department of Finance’s (DOF) critical role in funding the nation’s progress, stressing that the 2026 National Expenditure Program (NEP) will be under strict scrutiny to ensure that no peso is wasted.

“It is us in the DOF who must raise the money to build the roads that connect us, to ensure every Filipino has access to quality education and healthcare, to secure our food supply, and to create opportunities for all to dream bigger,” he said during the Development Budget Coordination Committee (DBCC) Briefing for the Senate Committee on Finance on the Fiscal Year 2026 National Budget on September 2, 2025.

“[W]e fund the nation’s progress and bring us closer to our Ambisyon 2040—a prosperous middle-class society future where poverty is eradicated,” he added.

Secretary Recto underscored that raising resources is no easy feat, which is why preventing wasteful spending is a top priority. He laid down the DOF’s guiding principles in safeguarding public funds, which are setting revenue targets carefully and spending taxes wisely on programs and projects that directly benefit the Filipino people.

“For good spending is the best way to encourage tax compliance. People are naturally resistant to taxes. But their tax obedience can be won if they will see how the taxes they paid are spent for the right things, at the right price, by the right agency, at the right time,” he said.

In this regard, the Finance Chief expressed grave concern and dismay over the reported anomalies and corruption in the Department of Public Works and Highways (DPWH) flood control projects, warning that ghost projects rob the nation of jobs and opportunities.

“Raising revenues is no joke. Tapos makikita mo lang na hindi ito napupunta sa mga tamang proyekto at sa kapakanan ng taong bayan, yung iba naging multo pa,” he stressed.

According to DOF data, these ghost flood control projects have cost the Philippine economy an estimated PHP 42.3 billion to PHP 118.5 billion from 2023 to 2025. This is equivalent to 95,000 to 266,000 jobs that could have benefited Filipinos.

To correct this injustice, Secretary Recto pledged his full support to the President’s directive to closely scrutinize the 2026 NEP.

“We prepared the NEP with the President to ensure that the projects to be funded in 2026 have the highest multiplier effect. Kaya babantayan po namin ito para walang ghost projects. Walang kurapsyon. Walang sayang na piso,” he stressed.

Further, he emphasized that the Marcos Jr. administration is channeling funds to where they matter most, such as projects and programs that deliver maximum impact to the Filipino people, such as infrastructure, education, health, agriculture, and social welfare.

These investments will create more jobs, raise incomes, and reduce poverty, pushing the country closer to its long-term economic aspirations in Ambisyon 2040.

With this, Secretary Recto appealed to Senators to ensure that the 2026 proposed NEP of PHP 6.793 trillion delivers real value for every Filipino.

“[L]et’s ensure that it is a budget that works as hard as the people who fund it––the taxpayers,” he emphasized.