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Senate budget panel chief expects P5-trillion 2021 'stimulus budget'

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Katrina Domingo, ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2020/business/05/06/angara.jpg"/><figcaption>FILE PHOTO: Senate Finance Committee chair Sonny Angara holds a hearing in the Senate session hall on February 26, 2020. Photo from Senate of the Philippines&#x27; official website</figcaption></figure></div>MANILA - The chair of the Senate finance committee on Wednesday said he expects the executive department to submit a P5-trillion &quot;stimulus budget&quot; for 2021 as the government shifts spending towards programs that would help the Philippines recover from the coronavirus crisis.The government needs more funds for social amelioration programs for the marginalized and loan packages for businesses affected by the coronavirus crisis, Sen. Sonny Angara told reporters in an online press conference.&quot;Palagay ko (I think) it will be a stimulus budget.. So, you’re talking maybe close to P5 trillion assuming we go by the usual increase,&quot; he said, referring to how the government has been increasing the budget annually between P400 billion to P500 billion.&quot;Palagay ko, karamihan d&#x27;yan [sa budget], even the infrastructure, will be tied towards providing stimulus because if you put up a school building or maybe a covered court or a road in a small province kung saan wala nang negosyo doon, makakatulong at makakabigay ng trabaho &#x27;yun doon sa lugar na &#x27;yun,&quot; he said.(I think most of the items in the budget, even infrastructure, will be tied towards providing stimulus because if you put up a school building or maybe a covered court or a road in a small province where there are no businesses, it will help generate jobs.)&quot;I think you will be seeing less of items like vehicle purchases for instance... &#x27;Yung usual seminars, palagay ko, mawawala na &#x27;yan (Expenses for seminars will be deleted)... And we’ll be seeing, I’m sure much more emphasis on the public health sector,&quot; he said.The health department will likely receive more funds for medical infrastructure to ensure that the country can respond to those infected with the coronavirus disease 2019 (COVID-19), Angara said.&quot;You’ll also be looking at the improvement of government facilities nationwide kasi nakita natin na medyo na-expose tayo doon sa capacity to test natin (because we saw how we were exposed on our capacity to test),&quot; said Angara who was earlier isolated in a hospital after contracting COVID-19.&quot;Naging mabagal tayo [sa testing] kumpara po sa ibang bansa (We have been slow in testing compared to other countries). So I think, we need that capacity in Luzon, Visayas and Mindanao, not just RITM,&quot; he said, referring to the Research Institute for Tropical Medicine in Muntinlupa City, the main testing center for coronavirus.Angara said he also expects the executive branch to ask Congress for funding for a separate stimulus package while the 2021 budget is not yet enacted into law.The executive usually submits the budget proposal to the House and Senate days after the President delivers the State of the Nation Address every 4th Monday of July.&quot;There’s no income at all coming in tapos we have to look at the workers in those industries also. Maraming male-lay off dyan if they haven’t been laid off yet. So, government really has to continue with its assistance programs,&quot; Angara said.(There’s no income at all coming in, then we have to look at the workers in those industries also. A lot of workers will be laid off, if they haven&#x27;t been laid off yet. So, government really has to continue with its assistance programs.)Congress earlier passed the Bayanihan to Heal as One Act, which authorizes th President to realign funds provided that it will be used for programs designed to help Filipinos affected by the coronavirus crisis.The law also guarantees that 18 million indigent families will receive between P5,000 and P8,000 in cash aid in separate tranches for two months to ensure that no Filipino will starve despite the COVID-19-related work stoppage in Metro Manila and other parts of the country.Government also announced Saturday that 5 million more Filipinos will receive the first tranche of cash aid.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/news/05/02/20/5-million-more-filipinos-to-receive-first-tranche-of-covid-19-cash-aid-palace">5 million more Filipinos to receive first tranche of COVID-19 cash aid – Palace</a></li></ul>

Senate Committee on Finance chair Sonny Angara on Wednesday said he expects the executive department to submit a P5-trillion "stimulus budget" for 2021 as the government shifts spending towards programs that would help the Philippines recover from the coronavirus crisis.

Senate Committee on Finance chair Sonny Angara on Wednesday said he expects the executive department to submit a P5-trillion "stimulus budget" for 2021 as the government shifts spending towards programs that would help the Philippines recover from the coronavirus crisis.

Senate budget panel chief expects P5-trillion 2021 'stimulus budget'

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Senate budget panel chief expects P5-trillion 2021 'stimulus budget'

Katrina Domingo,

ABS-CBN News

Published May 06, 2020 06:53 PM PHT

Read More:

Sonny Angara

2021 budget

COVID-19 stimulus package

COVID-19 financial aid

coronavirus

coronavirus crisis

Bayanihan to Heal as One Act

Bayanihan II

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