Government releases nearly P500 billion to key agencies

MANILA, Philippines — The national government has released almost P500 billion in funds to key agencies so far this year to support their COVID-19 response efforts, the Department of Budget and Management (DBM) reported.

Latest data from the DBM showed that allotment releases for COVID-related programs and projects have reached P499.25 billion as of Dec. 18.

Of this amount, P386.14 billion was released under the Bayanihan to Heal As One Act, which lapsed on June 25.

From the law’s expiration until the enactment of Republic Act 11494 or Bayanihan 2 in September, the DBM released another P6.59 billion to support sectors affected by the pandemic.

Meanwhile, allotment releases under the Bayanihan 2 law have so far reached P106.52 billion out of the P140-billion stimulus, leaving at least P34 billion in funds yet to be issued for the COVID-19 response of agencies.

DBM Assistant Secretary Rolando Toledo said the agency temporarily stopped the release of funds under Bayanihan 2 following the law’s expiration on Dec. 19.

Releases will be continued once President Duterte signs the law extending the Bayanihan fund’s life until June 30, 2021. Both Houses of Congress quickly moved to get the measure passed.

“Since the validity of the Bayanihan 2 already expired last Dec. 19, we are no longer releasing the balance until the extension of the Bayanihan 2 has been approved or ratified by Congress,” Toledo said in a text message.

Based on DBM data, the Department of Social and Welfare Development received the highest COVID-19 allocation among all agencies amounting to P217.42 billion. The amount was used for the provision of subsidies under the Social Amelioration Program and other interventions.

It was followed by the Department of Finance, which acquired a total of P101.08 billion. Of this amount,  P51 billion was utilized for the implementation of the Small Business Wage Subsidy Program, while P38.3 billion was used for the provision of support to local government units. The remaining amount went to government financial institutions and state-run corporations.

The Department of Health also cornered P73.44 billion of the total releases, enabling the agency to strengthen the country’s health care system amid the pandemic.

Other recipients include the Department of Agriculture (P34.68 billion), Department of Labor and Employment (P28.98 billion), Department of Education (P15.21 billion), Department of Transportation (P9.5 billion), Department of Public Works and Highways (P5.57 billion), Department of the Interior and Local Government (P4.31 billion), Commission on Higher Education (P3.3 billion), Department of National Defense (P2.93 billion), Department of Trade and Industry (P1.3 trillion) and five other agencies