DBM assures enough jab funding
We should not be worried. We have many ways to source the needed funding
Budget Secretary Wendel Avisado on Saturday assured enough funding for the procurement of vaccines against the coronavirus disease ( COVID- 19), saying more money will be
made available aside from the P73 billion earlier promised by the Department of Finance.
Before the year ends, the President will be able to sign the budget.
In the weekly Laging Handa briefing, Budget Secretary Wendel Avisado said that at least P10 billion from the Bayanihan to Heal as One 2 is now available for the acquisition of vaccines.
“We in the economic team, we anticipated that we need big funding for vaccine procurement. At present, we have standby funds of P10 billion under the Bayanihan 2 for the procurement of vaccine. Although, for next year, under the nat i onal expenditure program, we only have P2.5 billion initial budget,” he said.
Avisado disclosed that Finance Secretary Carlos Dominguez has assured President Rodrigo Duterte the government is ready to spend P73 billion to vaccinate at least 60 million and achieve the government’s target of herd immunity.
“So with that, we should not be worried. We have many ways to source the needed funding. Just like Senator (Christopher)
Bong ( Go) said, it could be bilateral, multilateral or direct loans from ADB ( Asian Development Bank) or World Bank or a combination,” Avisado added.
We in the economic team, we anticipated that we need big funding for vaccine procurement.
“I f Pres ident Duter te said, the government has the capability, this is true. We at the economic team, will ensure that funding is available for the vaccination of our fellow citizens,” he added.
For his part, Go assured that Congress will be able to ratify the P4.5 trillion proposed budget for 2021 by 9 December.
“Hopefully by Monday, 7 December, or hopefully 9 December, both houses of Congress will be able to ratify the budget and will be able to transmit it to the Executive,” he revealed.
Go said the President hopes to sign the budget on 21 or 28 December.
“Before the year ends, the President will be able to sign the budget. And by 1 January, we have a new budget. This budget is tailor- made or suited for COVID- 19. This is the reason why the President did not agree to have a re- enacted budget. We cannot afford another one because the fight against COVID- 19 is difficult, especially for those who lost their jobs because of the pandemic,” Go explained.