Metro Manila (CNN Philippines, May 27) — While the Bayanihan 3 bill has already made significant strides in the House of Representatives, Malacañang says it awaits what economic managers and the Treasury have to say about the measure’s funding prior to its certification as urgent.
“Hinihintay pa muna natin ‘yung report ng ating economic team if we have available funds pa rin ‘no,” said Presidential Spokesperson Harry Roque during his regular briefing on Thursday.
[Translation: We’re waiting for the report of our economic team if we still have available funds.]
The spokesman reiterated the economic managers’ “consistent” position of first looking into whether the 2021 national budget may still be used for now along with remaining funds from Bayanihan 2, also known as the Bayanihan to Recover as One Act, before utilizing a third economic stimulus package.
“An additional consideration po is ‘yung certification coming from the Treasury kung mayroon po tayong pondo para mapondohan ang Bayanihan 3,” said Roque.
[Translation: An additional consideration is the certification coming from the Treasury on whether we still have sufficient funds for financing Bayanihan 3.]
The House of Representatives recently approved on second reading the proposed measure, which contains a ₱405.6 billion package providing for a new round of financial assistance for Filipinos affected by the COVID-19 pandemic.
House Speaker Lord Allan Velasco earlier said the chamber eyes passing the bill, also known as Bayanihan to Arise as One Act, on its third and final reading before Congress’ adjournment on June 5.
The Philippine economy shrank by 4.2% from January to March, effectively keeping the country in recession as it continues to combat the health crisis.
