MANILA, Philippines — At least 30 lawmakers have urged the House committee on public accounts to probe the unreleased funds under the Bayanihan to Recover as One Act or the Bayanihan 2 law.
In filing House Resolution No. 1558, the lawmakers noted that only 73.74% of the authorized appropriations have been released by the Department of Budget and Management (DBM) while the remaining unreleased items are still pending the approval of the Office of the President.
They also pointed out that utilization rates of funds of released funds have not been reported by implementing agencies.
“The delays in releases forego the opportunity to rescue the economy and correlate with actual economic losses, as evidenced by the dramatic decline in lending amid the delays in infusing capital to government financial institutions,” the resolution read.
The lawmakers said they also received complaints of slow implementation of other forms of direct relief under Bayanihan 2, which, they said, disallows the country to provide more secure employment to 420,000 who lost their jobs last year and the 4.5 million other working Filipinos in danger of losing their jobs.
The country’s economy, the lawmakers added, cannot afford slow implementation of government relief programs, especially as the World Bank and other international institutions warn that the Philippines will recover more slowly than its neighbors in East Asia and Pacific region.
“The speedy implementation of Bayanihan 2 is also a fiscally prudent approach to economic recovery, for its potential contributions to economic recovery could help allay the need for another round of deficit-increasing stimulus measures,” the resolution read.
Signatories of the resolution include Deputy Speakers Ferdinand Hernandez, Deogracias Victor Savellano, Rufus Rodriguez, Kristine and Singson-Meehan.