Full utilization of Bayanihan 2 funds would have reduced PH economic contraction, says lawmaker
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Metro Manila (CNN Philippines, February 10) — The impact of the economic decline in the Philippines would not have been as bad had the government been more aggressive in the disbursement of the ₱162.5-billion funds under the Bayanihan to Recover as One Act or Bayanihan 2, a congressman said on Wednesday.
Marikina Rep. Stella Quimbo said economic contraction would have been reduced from 9.5% to 8.2% in 2020 if only the government was more transparent in the utilization of the Bayanihan 2 funds. She also said that more than ₱252 billion or over 1.3% would have been added to the country's gross domestic product last year had the funds been disbursed faster.