Philippine economic team looking for more sources to fund Bayanihan 3 By JON VIKTOR D. CABUENAS, GMA News
Published April 26, 2021 5:42pm The economic cluster is exploring additional sources of revenue, with the Bayanihan to Arise As One Act currently pending in Congress. According to Finance Secretary Carlos Dominguez III, the economic team is now in talks with Congress leaders regarding the Bayanihan 3. Together we are exploring additional sources of revenue to mitigate the impact of an expenditure program on our fiscal deficit, Dominguez vsaid in a virtual press conference during the Sulong Pilipinas Forum on Monday. Dominguez said among the avenues being studies is the possibility of cutting down non-essential government expenditures, and increasing the dividend rate of government-owned and -controlled corporations (GOCCs) to 75% from 50%.