DOF: No 2025 budget for Maharlika Fund subsidies

The Department of Finance announced on Wednesday, August 14, that the 2025 National Expenditure Program does not include subsidies for the Maharlika Investment Fund (MIF), which has yet to make any investments since its establishment nearly a year ago.

Finance Secretary Ralph Recto stated that the MIF is still in the process of setting up operations and finding opportunities, with no specific investment proposals made to the board so far.

Recto compared the MIF to a startup company, noting that it has been operational for about 6-7 months since the law was passed last year, and they are currently scouting for investments and hiring employees.

The initial seed money of P75 billion is invested in the National Treasury, earning approximately 4.6 percent interest annually, which funds the MIF's operations; however, this interest has largely gone unused.

President Ferdinand Marcos Jr. signed Republic Act No. 11954 in July 2023 to tap state assets for investment ventures and generate additional public funds.

Recto expressed hope that the MIF can make an investment before the end of the year, with potential areas of interest including energy and infrastructure.