Marcos considers extra budget amid oil shock 03.06.2026

President Ferdinand R. Marcos, Jr. is considering a supplemental budget and legislative amendments to mitigate the economic impact of the Iran war, which has triggered an energy emergency and rising fuel prices. The government aims to provide assistance to affected sectors and citizens, with discussions underway for potential funding. This move comes after the President declared a year-long energy emergency in March due to global oil market volatility. Experts suggest that while a supplemental budget can offer relief, careful identification of funding sources and targeted distribution of resources are crucial. Concerns have also been raised about the potential widening of the national budget deficit and increased government borrowings.

BusinessWorld Full Article














