Manila Bulletin
Drilon says he doubts gov’t could absorb addt’l spending from Bayanihan 2, GAA extension
Senate Minority Leader Franklin Drilon supports the extension of the 2020 General Appropriations Act (GAA) and the Bayanihan to Recover as One Act into next year, but he expressed concerns about the government's funding capacity.
Drilon is doubtful if the government can absorb the unspent amounts from Bayanihan 2 and the 2020 GAA, given the current fiscal space and programmed expenditures for 2021.
Both measures are crucial as the 2020 GAA and Bayanihan 2 are set to expire on December 31 and December 19, respectively.
To address the funding issue, Drilon proposed that President Rodrigo Duterte realign the P33 billion in funds currently held by the Philippine International Trading Corporation (PITC).
He suggested a 'cash sweep' to recover idle funds and interest income being held by PITC, emphasizing that these funds are no longer accessible to the corporation due to congressional vigilance.
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The Senate approved on final reading measures to extend the availability of P148 billion in unspent funds under the 2020 national budget and Bayanihan 2.
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Two congressional leaders proposed extending the validity of the Bayanihan to Recover as One Act (Bayanihan 2) until March or June 2021.
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The House of Representatives approved House Bill 8063 on final reading, extending the availability of funds under the Bayanihan to Recover As One Act (Bayanihan 2) until June 30, 2021.
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