The country’s economic managers presented and defended the proposed 2022 national budget as the House of Representatives began its deliberations.
Among the main points are the targets to revive the economy from the effects of the prevailing COVID-19 pandemic.
Finance chief Carlos Dominguez said he sees 2023 as the year of downward trend of the country’s debt-to-gross domestic product (GDP) ratio, following the government’s move to resort into loans to address the health crisis.
“I would like to emphasize again that the increase in our debt level is only temporary. It did not stem from profligate public spending but rather resulted from a universal shock that deteriorated the financial positions of almost all countries around the world,” Dominguez said.
The National Economic and Development Authority (NEDA) likewise expects the revival of the pre-pandemic economy in the latter part of 2022 or early 2023.
Meanwhile, lawmakers questioned why the P45-billion fund for COVID-19 vaccine booster shot was put under unprogrammed funds, citing its significance in economic revival.
The Department of Budget (DBM) and management assured the health department will have funds for COVID-19 vaccines.
“Hindi po totoo that we don’t need a third dose. But a booster dose might be needed if the impact of three doses will be short term, or if ever we will be having additional variants after Delta and Lambda,” ex-health chief and Iloilo First District Rep. Janette Garin said.
“Hindi namin siya binigyan dahil hindi pa namin sigurado kung talagang kailangan ‘yan kasi wala namang assurance na kailangan ‘yun,” DBM officer-in-charge USec. Tina Canda.
Canda assured that there is sufficient budget for the health department for the procurement of vaccines. – Report from Daniel Manalastas/AG-rir
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