Around ₱173.31 Billion of the Country’s Pandemic Stimulus Still Unused

After more than a year of the global pandemic’s sudden outbreak in the Philippines, at least a quarter of the country’s pandemic stimulus measures remain unspent.

Out of the ₱660.5 billion funds that were set aside since March 2020 for COVID-19 response, only ₱487.19 billion has been disbursed as of end-May leaving ₱173.31 billion unused according to Budget Secretary Wendel Avisado.

Under the Bayanihan to Heal as One Act, the allotted funds amounted to around ₱387.17 billion which expired on June 2020. Likewise, the Bayanihan to Recover as One Act was reserved ₱200.12 billion while the government’s regular funds were allocated ₱73.21.

The funding allotted for the Bayanihan laws was primarily geared to push for initiatives including the emergency employment of health workers, purchases of additional face masks and other protective gear, capital for additional retail loans, cash-for-work assistance, cash aid, and additional COVID-19 testing kits and equipment.

In May, President Rodrigo Duterte urged the Department of Budget and Management (DBM) to collate budget data among agencies and identify additional savings that will serve to boost this year’s response. The DBM is still yet to finish these tasks.

While there are still leftover funds to be utilized, the Bayanihan 3 bill is already in the works within Congress. This stimulus is worth over  ₱400 billion, which includes a one-time handout of ₱2,000 cash aid for all Filipinos regardless of financial status.

Under the 2021 national budget, around ₱961.22 billion has been reserved for COVID-19 response. Most of which are used to fund vaccine procurement. The national budget is expected to rise to ₱5.024 trillion in 2022, some of which will be used to purchase COVID-19 booster shots and create a National Virology Institute among other plans.

Source: CNN PH