Q1 allocation releases reach P1.287T — Recto
‘Government-wide, allocation releases programmed for the second quarter have so far reached P1.287 trillion, and it is a must that the social good that this will fund be enjoyed by the people soonest.’
EXECUTIVE Secretary Ralph Recto said on Friday that close to P1.3 trillion had already been released to speed up the implementation of various government programs and projects in the next quarter of this year.
DAILY TRIBUNE IMAGES
Malacañang Palace on Friday reported that the Marcos administration has already shelled out more than P1 trillion to fund various government projects for the second quarter of the fiscal year.
“Government-wide, allocation releases programmed for the second quarter have so far reached P1.287 trillion, and it is a must that the social good that this will fund be enjoyed by the people soonest,” Executive Secretary Ralph Recto reported during the regular assessment of the execution of President Ferdinand Marcos Jr.’s directive on 14 May.
The meeting was aimed at speeding up the implementation of the administration’s projects.
Agencies handling big-ticket programs
Joining Recto were officials of the Departments of Agriculture, Transportation, Education, and Budget and Management, the cabinet agencies handling big-ticket programs, tackled budget utilization issues to narrow the gap between disbursements and releases.
“There are spots of underspending, and these must be resolved immediately,” Recto stressed.
Department officials present said that new procurement rules that expedite project acquisition should be maximized to cut delivery delays.
“There is a way that we can speed up the process without taking legal shortcuts. Red tape that causes paralysis without sacrificing transparency can be done away with,” according to Recto.
President’s order: Fast-track priority programs
“The President’s order is to fast-track priority programs to push economic growth against global headwinds,” he said.
The President, said Recto, “in multiple Cabinet meetings, has urged his Cabinet to speed up the projects and programs that will have the highest multiplier effect, create jobs, battle inflation, with a focus on food security.”
To address economic disruptions caused by the Middle East conflict, which saw oil prices spike, the government packaged a multi-agency response called UPLIFT.
UPLIFT agenda
The UPLIFT agenda protects households, supports vulnerable sectors, ensures adequate energy supply, and affordable food for all Filipinos.
Overall, government spending, which impacts the GDP report card, is necessary to pump prime the economy, underscored Recto.