Bayanihan 2 funds inadequate, Robredo says

MANILA, Philippines — Funds allocated under the proposed Bayanihan to Recover as One Act or “Bayanihan 2,” which seeks to cushion the effects of the coronavirus disease pandemic, are inadequate, Vice President Leni Robredo said yesterday.

“The provisions indicated and the funds allocated under Bayanihan 2 are not enough. The government must spend more, spend efficiently, and spend quickly, with the utmost sense of urgency, as if our economic survival depends on it – because it does. And yet, here we are, still dependent on a pre-COVID budget,” Robredo said in a video message last night.

The House of Representatives ratified yesterday the bicameral conference committee report on the disagreeing provisions of Bayanihan 2.

The Senate ratified the bill last Thursday. The measure only needs President Duterte’s signature to become a law.

In her 20-minute address, Robredo made several recommendations to help revive the economy, including the provision of a P5,000 cash subsidy to each of the 10 million poorest families for a period of four months as well as financial and technical support for the micro, small and medium enterprises or MSMEs.

“Giving P5,000 pesos monthly for four months to the 10 million poorest families sums up to P200 billion — small amount to save our fellow Filipinos from hunger. The national government has already distributed financial assistance twice, but many experts agree that we should allocate more funds to extend such an effort,” she said.

The Department of Social Welfare and Development, she added, already has list of the poorest families.

“The next biggest enemy after disease: hunger. We can prevent this by extending assistance to our most vulnerable countrymen,” she also said.

Robredo likewise urged the government to allocate funds for wage subsidies to MSMEs that can commit to keeping their workers employed.

“We should also strengthen LGUs so they can support small businesses – establish credit mitigation services, to guide them in finding loans, in creating business plans, and in managing their finances to prevent them from closing up shop,” she said.

Robredo also sees the need for a large-scale program to help small and community-based businesses acquire an online presence.

She is pushing for the establishment of online digital payment systems, which she said might not be easy to follow for MSMEs.

“Along with this, the opening of bank accounts should be made easier, and assistance should be provided so as many people as possible sign up for digital modes of payment,” she said.

“If we can accomplish these things, we can maintain the flow of our economy while protecting buyers and consumers from the threat of COVID-19,” Robredo said.

The Vice President also proposed the provision of reintegration and livelihood programs for overseas Filipino workers who were forced to return to the country due to the COVID-19 pandemic.