Budget Secretary Wendel Avisado said Friday, September 4, that, in total, around P303 billion has been earmarked for the government’s COVID-19 response under the proposed P4.5-trillion fiscal program for 2021.

Marikina Representative Stella Quimbo asked Avisado about the total coronavirus funding in the proposed expenditure plan during first day of budget hearings at the House of Representatives.

“The total money allotted for coronavirus response is P90,127,930,000,” said Avisado.

According to the budget chief, this is spread out among the education, science and technology, public works, and socioeconomic planning departments, as well as the Technical Education and Skills Development Authority.

Quimbo said the amount seemed “too small,” to which Avisado responded that the P90 billion is on top of the health sector budget of about P213 billion.

The total amount, P303 billion, is just about 7% of the proposed P4.5-trillion budget.

Congressmen can still reallocate the amounts in the proposed fiscal program, as long as it doesn’t exceed the P4.5-trillion budget ceiling.

No higher stimulus

Finance Secretary Carlos Dominguez III seemed to have blocked any request for an additional stimulus package during the budget hearing.

Deputy Speaker Luis Raymond Villafuerte asked whether a third installment of the Bayanihan Act or a higher stimulus program will be possible.

Dominguez answered that the government has to preserve its assets to have “enough stamina to run this marathon.”

“One, you have to preserve your assets, preserve your strengths for the long haul. And number two, you have to look at experiences of other countries. And it doesn’t seem that spending a lot of money is going to save your productive capacity,” the finance chief said.

“The better fiscal stamina we have, the better our chances of getting out of this recession faster,” he added.

So far, fund releases under the Bayanihan Act amounted to about P390 billion. The second Bayanihan bill, which is awaiting the President’s signature, has ready appropriations of P140 billion and another P25.5-billion stand-by fund.

Economic managers said that the “theme” of the 2021 fiscal plan is “Reset, Rebound, Recover” from the pandemic.

Bulk of the budget, however, will go to the Build, Build, Build infrastructure program as officials believe it will save the country’s recession-hit economy. At least P1.107 trillion or a quarter of the fiscal program will go to infrastructure spending. – Rappler.com