DBM: P155B funding needed for UPLIFT interventions

The government would need about P155 billion – to be sourced from agencies’ savings, realigned allotments or unreleased appropriations – to fund interventions in response to the economic impact of the ongoing Middle East war.

At a Palace press briefing on Thursday, Department of Budget and Management (DBM) spokesperson Undersecretary Goddes Hope Libiran said the P155 billion estimated funding requirement for the United Package for Livelihoods, Industry, Food, and Transport (UPLIFT) interventions was based on the preliminary presentation of the Office of the Executive Secretary.

The UPLIFT strategy was adopted by the government after President Ferdinand “Bongbong” Marcos Jr. declared a state of national energy emergency in March.

It is a whole-of-government response to ensure energy supply stability, support key sectors such as transport, agriculture, and micro, small, and medium enterprises (MSMEs), and protect Filipinos amid global oil supply disruptions caused by the Middle East conflict.

Libiran said the government is “not looking at entirely new spending,” but a strategic spending initiative “within the current fiscal phase [and] consistent prudent fiscal management.”

The Palace is planning to propose an UPLIFT bill to authorize the government to use unreleased appropriations and savings from the 2025 and 2026 national budgets to respond and mitigate economic impacts from the Middle East crisis.

Libiran said this estimated amount is not yet final as further refinements are ongoing with agencies expected “to finalize their respective proposals.”

“The final amount will depend on how much the participating agencies can realign, repurpose or defer from their existing appropriation in order to support targeted intervention addressing the Middle East crisis,” she said.

“So, once they finalize… It will be submitted to the DBM for consideration… It’s really up to the agencies,” Libiran added. — JMA, GMA News