THE Department of Budget and Management (DBM) said there is now only P3.19 billion left unreleased under the P165.5 billion Republic Act (RA) 11494 (Bayanihan to Recover as One Act) or Bayanihan (solidarity) 2.
The DBM issued the statement on the funds after 37 lawmakers urged the House Committee on Public Accounts to conduct an inquiry into the unreleased and unutilized appropriations under Bayanihan 2. These lawmakers “expressed concern” that delays in the releases forego the opportunity to rescue the ailing economy.
Budget Assistant Secretary and spokesman Rolando U. Toledo told the BusinessMirror that the DBM has already released to several government agencies 97.7 percent or P136.81 billion out of the P140 billion allocation authorized under Bayanihan 2.
“For the remaining balance of the P140.0 billion allocation, which amounts to P3.19 billion, we would like to note that the release of these funds will depend on the submission of the requests of the implementing agencies with complete supporting documents,” Toledo told the BusinessMirror late Wednesday. “The DBM, likewise, assures that all requests will be immediately evaluated and processed within 24 hours upon receipt thereof.”
Moreover, Toledo said the budget department has already fully released the P25.53 billion standby fund also authorized under Bayanihan 2.
On top of this, the DBM said another P6.3 billion in releases classified under Bayanihan 2 was charged from the 2019 and 2020 national budgets.
Overall, Toledo said the DBM has already released a total of P168.65 billion under Bayanihan 2.
To cushion the impact of the pandemic, President Duterte signed into law RA 11494 providing for a P165.5 billion fund for emergency relief and spending, including a P25.5-billion standby fund.
Under the standby fund, P10 billion was allocated for Covid-19 testing and procurement of medicines and vaccines. About P15.5 billion is to support wholesale banking and equity infusion into Land Bank of the Philippines and the Development Bank of the Philippines for industries affected by the pandemic.
Last Monday, lawmakers filed House Resolution 1558 wherein they pointed out that the “economy cannot afford slow implementation of government relief programs that have already been approved and authorized, especially as the World Bank and other international institutions warn that the country will recover more slowly than its peers in the East Asia and the Pacific Region.”
In 2020, the Philippines recorded its worst post-war economic performance with a decline in gross domestic product (GDP) of 9.5 percent.
Citing an an Executive report on Bayanihan 2 issued last January 6, the resolution said 73.74 percent of the authorized appropriations have been released by the DBM, while the remaining unreleased items primarily composed of equity infusion to government financial institutions and excluding standby funds, are still pending for approval by the Office of the President.
Moreover, while the releases have been recorded by the DBM, the resolution added that the corresponding utilization rates of these releases have not been reported by the implementing agencies in a manner that will provide Congress the opportunity to appreciate how much of these releases have actually already benefited the public.
Lawmakers said the release and implementation of assistance authorized under Bayanihan 2 remain crucial and urgent with the persisting impact of poor governance of the pandemic on employment, hunger, poverty and business.
They also argued the country is missing its opportunity to provide more secure employment to 420,000 workers. This is the number of people the Department of Labor and Employment said lost employment last year. The lawmakers said about 4.5 million other working Filipinos are in danger of losing their jobs.
In response to the delays in implementation and to allow the government the opportunity to fulfill its commitments with Bayanihan 2, lawmakers said Congress approved RA 11519, which extends the availability of funds appropriated in RA 11494 until June 30, 2021.