The government may discontinue big-ticket projects aside from selling state properties to adequately fund its response to the socio-economic crisis spawned by the COVID-19 pandemic.
President Duterte said in a taped public address last Thursday that the COVID-19 outbreak has taken the nation “hostage” and that the government’s operations to contain and mitigate the effects of the pandemic have become costly.“Ginagamit lang natin ‘yung nakakolekta natin ngayon. ‘Yung sa budget na naka-program, baka hindi na matuloy ‘yon dahil sa COVID nag-ekis ang panahon collections we have right now.
It also allows the President to reprogram, reallocate and realign from savings in budget items as well as allocate cash, funds and investments held by national government agencies and state corporations to effectively address the pandemic. He observed that the detrimental effects of the socio-economic crisis arising from the COVID-19 pandemic may last for two years, citing the importance of finding the vaccine to stop the epidemic.
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