Senators pin hope on 'robust' stimulus package for economic recovery

The economic recession in the Philippines amid the COVID-19 pandemic did not come as a surprise for several senators who pinned their hopes on an effective stimulus package that could revive various bogged down industries.

Senate President Pro Tempore Ralph Recto on Thursday likened the economic stimulus plan to a ventilator that is much needed by a flatlining Philippine economy.

"We lost P1.4 trillion during the first half. About P10.8 billion daily from April to June alone. The economy is gasping in the ER and a more robust stimulus package is the ventilator that it needs," he said in a statement.

A comprehensive economic response to boost consumer confidence, and a better public transportation system amid the pandemic would be crucial in keeping jobs intact, he underscored.

Recto, a former National Economic and Development Authority (NEDA) chief, said he expects the government's economic team to present a "battle plan" during the budget hearings.

Senate committee on economic affairs chairperson Imee Marcos said she expects to hear about what kind of changes in budget priorities would be best.

"Isang malaking problem sa tingin ko 'yung ating business and private sector pinipilit natin na bumalik at ituloy ang pre-COVID-19 business era. Kaso wala nang 'business as usual'. We need to hear from our economic planners about the government’s shift in budget priorities," she said.

She added that the NEDA should plan for a "COVID-19 economy" which, she said, would be the "first stage of economic recovery."

Senate committee on finance chairperson Sonny Angara underscored that recession is a global problem due to the pandemic.

"What is important is the recovery strategy which a country pursues. Bayanihan 2 will help initially but many are commenting it should be followed by other economic actions," he said in a message.

"Kami naman sa Senado we have shown our willingness to work with our economic managers to pursue a successful recovery strategy. Huwag lang sana nilang payagang waldasin ng PhilHealth ang pinaghirapang pera ni Juan Dela Cruz," he added.

Earlier this week, a whistleblower claimed that a mafia pocketed P15 billion from the PhilHealth funds.

Senator Panfilo Lacson also shared the same urgency in addressing the PhilHealth mess, especially now that the country is in a "very precarious situation" due to the pandemic.

"It is revolting to discover so much unabated corruption in Philhealth involving billions that could have been put into good use in adequately addressing at least the issue of health," he said.

Lacson said he continues to believe that the strong economic fundamentals of the country will pull Filipinos through this crisis.

The Philippine economy plunged to a recession in the second quarter of the year as it contracted by 16.5% during the April to June period, according to the Philippine Statistics Authority.

'Worse than expected, another SAP needed'

Minority Leader Franklin Drilon, on the other hand, said the economic downturn in the country was worse than he expected and should serve as an eye-opener for the Inter-Agency Task Force on the Management of Emerging Infectious Diseases.

He claimed that even Bangko Sentral ng Pilipinas Governor Benjamin Diokno only projected 5.7 to 6.7 percent decline in the second quarter.

"Nobody expected it to be this severe. This is the result of the ‘shotgun’ approach in handling COVID-19. This shows the grim reality: gutom ang tao – walang trabaho, walang pera at ubos na ang ipon," he said in a statement.

He said another round of social amelioration program (SAP) for cash aid should be implemented.

"We should expand it but we must retain those families who received the first tranche because they are the ones who are badly hit by the pandemic," Drilon said.

"There is no sense that they were included in the first tranche but were delisted in the second tranche. Their lives did not become better after receiving the first tranche. They are the ones who continue to experience hunger every day. The government should provide for them until the pandemic is over," he added.

Drilon stressed that a bigger budget should be allocated for the proposed Bayanihan to Recover as One Act or Bayanihan 2.

Angara, however, previously said that the SAP under the proposed P140-billion economic stimulus bill would only be for those under enhanced community quarantine.

"Mayroon po pero only for those under quarantine po. 'Yung SAP kasi 'yun ang konsepto ng SAP eh—kapag hindi ka makapagtrabaho dahil naka-quarantine ka, bibigyan ka ng tulong-pinansyal ng gobyerno. Ngayon, 'pag nakaalis na tayo ng ECQ, wala na pong SAP 'yun," Angara said.

Senate Majority Leader Juan Miguel Zubiri said the Bayanihan 2, which was approved on third and final reading in the upper chamber, should at least be funded with P500 billion.

The House version of the bill, with a P162-billion component, passed the second reading on Wednesday.—AOL, GMA News