Economic managers assure funds allotted for assistance to poor Filipinos
Economic managers assure funds allotted for assistance to poor Filipinos
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00:00Senators expressed concern on two things during today's hearing on the proposed 2025 national budget
00:06financial aid and irrigation
00:08Also upper chamber lawmakers asked for an update on the status of the maharlika investment fund
00:15Daniel manila stas elaborates on the economic team's answers to these issues in this report
00:22As the senate panel continues its budget deliberations on the 2025 proposed national budget
00:29Government's economic managers assured the senators of help for the poor known popularly as funds for ayuda
00:36our poor constituents are
00:39very
00:40Sensitive to the prices of food, especially the prices of rice. I've heard discussion on how to improve
00:48The prices of rice how to improve the prices of food roughly about 560 billion in 2024
00:562024
00:58that
00:59Is intended to assist
01:0250 percent of all families nationwide the total, uh
01:09Is 591.8 billion pesos
01:14um
01:15Well, the the biggest share is uh pantawid pamilyang pilipino
01:19Program senators meanwhile inquired on the country's agriculture program
01:24Particularly the status on irrigation
01:34The projects for this year, what about the potential issues of potable water
01:42For the total national irrigation there has been an increase for if you compare it from the
01:48Where is
01:50If you will compare it from the general appropriations act
01:54Definitely. Oh
02:07So we cannot provide the same amount for next year madam chair
02:12Indian
02:22Senators also sought enlightenment on the status of the maharlika investment fund finance secretary ralph recto explained
02:29The mif is still on startup mode. Can you already invest?
02:35uh
02:36Seeing that you're still looking for office space. And when do you think the maharlika?
02:42Uh investment, uh
02:46Investment, how do you call it investment group? Hopefully within the year. Okay, there will be uh,
02:55Decisions to where to invest first of all, there is no subsidy in the 2025 net for maharlika
03:03uh admittedly admittedly it is taking time to
03:07Uh identify investments that the maharlika can make as you know, it is like a startup
03:13Well senator sherwin gatchalian sees the problem on underspending
03:17And absorptive capacity of government agencies in 2023
03:22The unutilized appropriation is about 1.7 trillion pesos. That's 20 percent of the total
03:30Appropriations
03:31So 20 percent has not been spent
03:34Or not been dispersed because we we use the different matrix to come up with this number
03:40so again, the bottom line is
03:42Uh, we are increasing budget, but we cannot spend budget what happens. Um, madam sheriff
03:49I mean I can be candid is that some of the amendments or sika from the congress are being set aside
03:57By the departments in terms of their prioritization
04:01Of which projects to implement and prioritize at a given year
04:07So first
04:09That's why we're pushing for cash-based budgeting daniel mananastas from the national tv for a new and better philippines