While Malacañang appreciates proposed measures for a new pandemic stimulus package in the form of Bayanihan 3, it emphasizes that the government still has enough funding for the country’s response and recovery amid the COVID-19 crisis.
Lawmakers have filed Bayanihan 3 bill or “Bayanihan to Arise As One Act” providing for a P420-billion stimulus package to resuscitate the economy. It is formulated as the continuation of the Bayanihan 1 and 2 laws.
“Our position has been consistent. We have enough fiscal stimulus in our budget and we are implementing Bayanihan 2,” presidential spokesman Harry Roque said at a press briefing.
Last month, Duterte signed laws extending the availability of the funds under Bayanihan 2 or Bayanihan to Recover as One Act and the P4.1-trillion 2020 national budget. These measures will enable the government to fund programs in response to the health crisis. The Bayanihan 2 funds will be available until June 30 this year while the validity of the 2020 budget has been extended until Dec. 31