Bulk of P352-b Spent for Covid-19 Response Went to Emergency Subsidies for Poor Families, Workers

The government has so far spent around P258 billion, or 73 percent, of the P352 billion it has released for its COVID-19 response programs on emergency subsidies and other forms of assistance to poor and low-income households, displaced workers and other vulnerable groups affected by the pandemic.

Finance Secretary Carlos Dominguez III said the P352-billion unplanned fund releases, which mostly involved reprogramming of existing appropriations in the 2019 and 2020 budgets, to respond to the COVID-19 pandemic, came from the tax collections of state revenue agencies; income from actual dividend collections from government-owned and controlled corporations (GOCCs); and concessional loans and grants provided by multilateral lenders such as the Asian Development Bank (ADB) and the World Bank.

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