DBM says funding for creating jobs is in budget
THE Department of Budget and Management (DBM) has given assurances that the government has set aside funding for the employment sector, which is currently fighting the surge in joblessness.
DBM Assistant Secretary Rolando U. Toledo said in a briefing on Thursday that the 2021 national budget and Bayanihan to Recover as One Act or the Bayanihan II are both taking into account the need for job generation.
Out of the proposed national budget for next year, P1.65 trillion and P1.35 trillion are allocated for the social services sector and economic services sector, respectively. He is expecting these budget allocations to generate job opportunities.
“Through the national government programs that will be implemented under these sectors, we hope to regain our losses in our labor and employment,” he said.
“For this to transpire, we aim to generate some 140,000 to 220,000 jobs next year and catalyze business activities by restarting and accelerating the ‘Build, Build, Build’ program,” Toledo added, noting that P1.11 trillion is allotted for infrastructure development.
Meanwhile, Toledo reiterated that the DBM is ready to release P140 billion more to the economy once the Bayanihan II is signed into law. “Under the Bayanihan II, we have already provided around P18.82 billion to be allocated for the employment sector,” he added.
Toledo said the bill is opening up opportunities to displaced workers through hiring of additional health-care providers and 50,000 contract tracers.
Recently, DBM reported that it has released P389.06 billion to beef up the government agencies’ Covid-19 war chest.
Toledo said that, of this amount,p 63.59 billion was given to the employment sector. This includes the P51-billion small business wage subsidy program of the Department of Finance and Social Security System.
“With the onslaught of the pandemic, the relevance of assistance for our workers has been even more apparent,” he said. “As we strive towards making a better normal, we will continue to support and promote initiatives that will support our workers.”
The DBM official added that P3.6 billion was earmarked for digital training and upskilling of the workers.
Toledo also reported that the government has registered a 26-percent growth in disbursement—amounting to P2.01 trillion—in the first half.
“This uptick highlights our commitment to revive and accelerate the infrastructure program which helps boost employment generation and preservation for the remainder of the year,” he said.
The Philippine Statistics Authority reported that unemployment rate climbed by 10 percent in July year-on-year. It is better than the 17.7-percent uptick in April but higher compared to 5.4-percent growth last year for the same month.