Government funds disbursed to state agencies for their respective coronavirus disease 2019 (Covid-19) pandemic response programs have surged to P498.5 billion, based on the data from the Department of Budget and Management (DBM).
Latest figures from the agency showed that of the amount released as of December 11, the bulk, or P217.42 billion, went to the Department of Social Welfare and Development.
Other departments that received more than P1 billion include the Departments of Labor and Employment with P28.98 billion; Health, P73.44 billion; Finance, P100.64 billion; Agriculture, P34.68 billion; Interior and Local Government, P4.31 billion; National Defense, P2.926 billion; Education, P14.91 billion; Trade and Industry, P1.3 billion; Public Works and Highways, P5.57 billion; and Transportation, P9.5 billion.
The Commission on Higher Education received P3.3 billion.
Agencies and institutions that received less than P1 billion were the Departments of Science and Technology with P53.23 million; Office of the Presidential Adviser on the Peace Process, P50.5 million; state colleges and universities, P415 million, and Philippine Sports Commission, P180 million.
These releases were in line with the Covid-19 response programs under Republic Act (RA) 11469, or the “Bayanihan to Heal as One Act” (Bayanihan 1), and RA 11494, or the “Bayanihan to Recover as One Act” (Bayanihan 2).
Bayanihan 1 covered assistance to disadvantaged or displaced workers during the pandemic; grants to cities, municipalities and provinces; and purchase of coronavirus detection kits, among others. The law expired on June 25.
Bayanihan 2 involves interventions that include cash-for-work programs; skills training; social assistance programs; funding for the agriculture, tourism, transportation and education sectors; and more lending programs to help businesses survive. It will expire on December 19.
The government has so far earmarked P2.06 trillion — equivalent to 11 percent of the country’s gross domestic product — for its four-pillar strategy against the pandemic.
The amount covers providing emergency and wage subsidies for poor and low-income households, small business employees and other vulnerable groups; marshaling the country’s medical resources and ensuring the safety of health-care frontliners; fiscal and monetary actions to finance emergency initiatives and keep the economy afloat; and an economic recovery plan to create jobs and sustain growth after the pandemic.
The DoF has so far raised $10.6 billion in budgetary support financing from the Philippines’ multilateral and bilateral partners, and from global bonds.
The new figure is composed of budgetary support from the Asian Development Bank worth $3.93 billion; World Bank, $3.25 billion; Japan International Cooperation Agency, $917.9 million; Asian Infrastructure Investment Bank, $750 million, and Finance Development Program, $275.7 million.
The total amount includes the $2.35 billion secured from the issuance of US dollar-denominated global bonds; $641.36 million worth of loans for Covid-19-specific project; $100 million in Export-Import Bank of Korea budgetary support; and $26.36 million worth of grants for pandemic-specific projects.