Senate minority leader Franklin Drilon on Tuesday urged the Duterte government to disclose how much it needs to spur the country’s economy, which slowed down due to the COVID-19 crisis.
Drilon said the Department of Finance (DOF) and Congress should reconcile their figures on the amount needed to stimulate the country’s economy, noting how both agencies are giving different figures.
The House of Representatives is eyeing a P1.3-trillion stimulus package to revive the economy, but the Executive, through the DOF considers the amount too high.
State economic managers have said the government can allow up to P140-billion only.
“We are ready to support any measure towards economic recovery. But the first question is: how much do we need to jumpstart the economy?” Drilon said in an interview over GMANews TV.
“If we agree on a certain amount, then the next question is, how are we going to fund it? Is it through a new tax measure or by borrowing?” he asked.
Drilon said he would not object to proposals for the country to borrow more funds to address the pandemic, even if it exceeds its deficit target.
What is important, he said, is that the peoples’ needs are addressed. That is why, Drilon said he supports the passage of the proposed Bayanihan 2 or the Bayanihan to Recover as One Act, which is pending on second reading.
“Ang problema ay naghuhulaan tayo kung magkano ang kailangan natin. Dito pa lang ang hirap nang gumawa ng plano at magpasa ng batas (The problem is we are only guessing about how much do we need. At this point, its already hard to plan and pass a measure),” Drilon pointed out.