Philippine Defense Budget Projections Explained (2022-2024)
The following data presented gives an insight of how the Philippine defense expenditure will look like if given the appropriate 2% and 5% share of the Gross Domestic Product.
As the percentage of the defense expenditure compared to the Gross Domestic Product outpout of the Philippines based on actual appropriations already discussed, this topic will encompass of how things will look like if the Philippine defense budget pegs at 2% and 5% of the Gross Domestic Product, a figure that countries like the United States wants to see on allies like the Philippines.
According to the presented data, the figures for 2022-2024 range from around Php 440 billion to Php 528 billion, which is larger than the Php 200 billion average expenditures provided under the annually enacted General Appropriations Act.
This means that an additional Php 285 billion to Php 300 billion will suffice to meet the funding requirement for multiple acquisition projects of the Armed Forces of the Philippines, even at a figure that will enable the organization to procure the ideal numbers presented in their respective plans under Horizon 3 of the Revised AFP Modernization Program.
However, this prospect will stretch the budget of the national government, in which its larger pie of appropriations go to the education sector as prescribed in the 1987 constitution, followed by public works projects and other equally pressing social problems faced by the country.
But still, given the figure, it gives insight into how much budget is presented in the given percentage of the Gross Domestic Product, which theoretically means attaining a full order of 6 Miguel Malvar-class frigates, or the full package presented by the United States for the 20 F-16 Vipers through the DSCA approval.
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