The government has released P61.28 billion or 85 percent of the stimulus package as it tries to catch up on its spending to spur economic growth in the fourth quarter, Budget chief Florencio Abad said on Tuesday.
Of the amount, P41.66 billion had been spent by line agencies and government-owned or -controlled corporations, Abad said.
Abad said government agencies are now working with the department to address the bottlenecks in fund utilization.
“The department is also keeping a close watch on the implementation of priority programs and projects by government agencies,” the budget chief said.
Abad said among the notable projects covered by the stimulus package are the following: P11 billion for the National Housing Authority; P970-million equity infusions for credit insurance and mortgage guaranty operation of the Home Guaranty Corporation and Trade and Investment Development Corporation of the Philippines; and P75 million for the establishment of a centralized credit information system.
Significant cash releases have also been given to Department of Health for the hiring of nurses and midwives, P2.75 billion support fund for local government units; and P331 million for the Department of Science and Technology for the purchase of three Doppler radars and the establishment of a National Meteorological and Climate Center.
President Benigno Aquino III has earlier vowed not to repeat this year’s underspending that resulted in nine months of dismal growth performance for the country. –Joyce Pangco Pañares, Manila Standard Today
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
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Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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