₱6.49 Billion Funds Untapped as Bayanihan 2 Expires

On Thursday, the Department of Budget and Management (DBM) indicated that approximately ₱6.49 billion funds of the Bayanihan to Recover as One Act (Bayanihan 2) was left untouched. This figure is significantly lower than the estimate that was earlier reported by the Malacanang.

“[I]t may be best to use the P6.49 billion figure instead since this is based on the submission of the agencies to the DBM,” explained Rolando Toledo, DBM assistant secretary.

Prior to this, Presidential Spokesperson Harry Roque mentioned that around ₱9 billion under Bayanihan 2 remained unused. However, he was enthusiastic that these would be allocated before the law had expired.

Bayanihan 2 ended on Wednesday after it was extended by President Rodrigo Duterte. Originally, the expiry of the law was set for December 19, 2020. The special appropriations under Republic Act 11494 amounted to a total of ₱141.595 billion.

The National Treasury will receive the funds that were not put to use as Bayanihan 2 specifically established that “release, obligation, and disbursement” of the budget was only until June 30, 2021.

Nonetheless, Congress is continuing its pursuit of passing Bayanihan 3 to further the government’s recovery efforts against the global pandemic. Likewise, the current administration’s borrowings continue to increase. This has caused concerns among economists regarding the country’s accumulating debt.

Source: GMA News