MANILA, Philippines — Senate Minority Leader Alan Peter Cayetano on Tuesday pressed for stricter oversight in government borrowing and fiscal discipline after the Department of Finance (DOF) said the government will need to borrow P4.5 billion daily in 2026 despite projecting P13.65 billion in daily revenues.
The senator’s call came in response to the DOF’s presentation before the Senate Committee on Finance on October 14, 2025, where the department said it still expects a significant financing gap that will require massive daily borrowings to sustain public operations and fund key development programs.
The DOF also presented its P37.78-billion budget for 2026, mostly for the Bureau of Internal Revenue (BIR) and Bureau of Customs (BOC), with plans to boost revenues through government-owned and -controlled corporations (GOCC) dividends and asset sales.
Cayetano, a long-time advocate of accountability and good governance, warned that while the government needs to raise funds, unchecked borrowing without sufficient congressional scrutiny of loan agreements could burden the country with hidden obligations in the future.
“Theoretically, it would be completely legal that the government borrows money pero walang approval ng Congress… You show it to us when it’s implemented na at walang option ang Congress to say na hindi namin gusto y’ung loan na ‘yan,” he said.
He added that the country’s fiscal policies must balance revenue generation with social responsibility, citing the government’s growing reliance on digital taxes and online gambling revenues.
“If the Department of Finance is mostly looking at the revenue side, where is the rest of the government?” he said.
Cayetano said fiscal measures should not only meet collection targets but also uphold transparency and accountability.
He reiterated the need for openness in public finance, co-authoring Senate Concurrent Resolution No. 4 mandating full transparency of key budget documents, where he is pushing for the disclosure of loan contracts, to strengthen accountability in fiscal planning.
“Ensure full transparency. The national budget is not just the work of a few but a product of the entire Congress, representing every Filipino,” he said.
Cayetano stressed the importance of aligning legislative oversight with the needs of the people.
“We want to assure the public. Iisa lang naman ang hangarin ng Pangulo at ng Kongreso: ang tiyaking makakarating ang tulong at serbisyong dapat sa bawat Pilipino, at malinaw kung saan napupunta ang pera ng bayan,” he said.
