Read on Twitter
[THREAD]
"Nasan ang P275B?"
First of all, there's no breakdown yet. The President can tap into ALL UNOBLIGATED executive branch/GOCC funds in 2019 budget (P2.678T) & 2020 budget (P2.75T). So how much? We don't know yet, but that's the ceiling.
MORE: https://www.rappler.com/newsbreak/in-depth/257182-explainer-funding-fight-vs-coronavirus
"Nasan ang P275B?"
First of all, there's no breakdown yet. The President can tap into ALL UNOBLIGATED executive branch/GOCC funds in 2019 budget (P2.678T) & 2020 budget (P2.75T). So how much? We don't know yet, but that's the ceiling.
MORE: https://www.rappler.com/newsbreak/in-depth/257182-explainer-funding-fight-vs-coronavirus
Why P275B?
P275B came from the estimate for the cash aid to 18M low-income families (P200B) and medical equipment such as test kits, PPEs, etc (P275)
But there's no mention of that in the law.
P275B came from the estimate for the cash aid to 18M low-income families (P200B) and medical equipment such as test kits, PPEs, etc (P275)
But there's no mention of that in the law.
Here's what we know so far: there are EXISTING allocations under the 2019 and 2020 budgets that can be used vs coronavirus. And it can be augmented, as needed – this is where the BAHO law comes in.
DBM so far identified P189B that will be used to add into existing budgets.
DBM so far identified P189B that will be used to add into existing budgets.
Fun fact about P189B
A part of it includes congressional insertions that were placed under "For Later Release", the bulk came from DPWH. Some were earlier flagged by Senator Panfilo Lacson just before the bicam approved the P4.1 trillion 2020 budget. https://www.rappler.com/nation/246982-bicameral-conference-committee-approves-2020-national-budget
A part of it includes congressional insertions that were placed under "For Later Release", the bulk came from DPWH. Some were earlier flagged by Senator Panfilo Lacson just before the bicam approved the P4.1 trillion 2020 budget. https://www.rappler.com/nation/246982-bicameral-conference-committee-approves-2020-national-budget
So where will the P189B go?
- P100B to DSWD for "SAP" or the emergency cash aid to 18M low-income families
- P30.82B assistance to city and municipal governments
- The rest we don't know yet.
Remember: P189B CAN STILL go up. It is not cast in stone.
- P100B to DSWD for "SAP" or the emergency cash aid to 18M low-income families
- P30.82B assistance to city and municipal governments
- The rest we don't know yet.
Remember: P189B CAN STILL go up. It is not cast in stone.
Apart from the P189B, we also have other budgets?
Yes. DOH, DSWD, DOLE, DA, DTI, DILG, DOST, etc can still use their EXISTING BUDGETS.
More about 2020 budget: https://www.rappler.com/newsbreak/in-depth/238933-where-will-money-go-2020-budget
More about 2019 budget: https://www.rappler.com/newsbreak/in-depth/229539-winners-losers-national-budget-philippines-2019
Yes. DOH, DSWD, DOLE, DA, DTI, DILG, DOST, etc can still use their EXISTING BUDGETS.
More about 2020 budget: https://www.rappler.com/newsbreak/in-depth/238933-where-will-money-go-2020-budget
More about 2019 budget: https://www.rappler.com/newsbreak/in-depth/229539-winners-losers-national-budget-philippines-2019
We don't have a problem with the budget?
YES! We don't have. Our problem is cash.
Why? Because cash in the Bureau of Treasury is running low.
Even the President asked DOF Sec Sonny Dominguez: "Magnakaw ka, manghiram ka, wala akong pakialam." https://www.rappler.com/nation/257195-duterte-seeks-more-cash-government-coronavirus-response
YES! We don't have. Our problem is cash.
Why? Because cash in the Bureau of Treasury is running low. Even the President asked DOF Sec Sonny Dominguez: "Magnakaw ka, manghiram ka, wala akong pakialam." https://www.rappler.com/nation/257195-duterte-seeks-more-cash-government-coronavirus-response
DOF says some P600B is available AS CASH to fund the budget – but that's by the END of April.
The target is to raise at least P1 trillion as part of the coronavirus war chest: https://philstar.com/business/2020/04/08/2006361/philippines-seeks-boost-covid-19-war-chest-breach-p1-trillion
Here's a great treemap by @prinzmagtulis of @PhilstarNews
The target is to raise at least P1 trillion as part of the coronavirus war chest: https://philstar.com/business/2020/04/08/2006361/philippines-seeks-boost-covid-19-war-chest-breach-p1-trillion
Here's a great treemap by @prinzmagtulis of @PhilstarNews
TLDR:
there's budget
not enough cash
To have cold cash, PH govt needs to borrow from international creditors. But that's dependent on how much agencies will ACTUALLY need. Thus, there has to be a PLAN. If not, borrowings will be at a higher cost, at the expense of govt.
there's budgetnot enough cashTo have cold cash, PH govt needs to borrow from international creditors. But that's dependent on how much agencies will ACTUALLY need. Thus, there has to be a PLAN. If not, borrowings will be at a higher cost, at the expense of govt.
