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%.
By JON VIKTOR D. CABUENAS, GMA News
Published April 26, 2021 12:45pm
Budget Secretary Wendel Avisado The Philippines is projected to post a fiscal deficit of P1.780 trillion this year as the growth of disbursements will be bigger than that of revenues, an official said Monday. During the Sulong Pilipinas Forum, Budget Secretary Wendel Avisado said the deficit is expected at 8.9% of the gross domestic product (GDP), higher than 7.6% of the GDP in 2020. Revenues are expected to grow 0.9% to P2.881 trillion, equivalent to 14.4% of the GDP. Meanwhile, disbursements are seen to grow by 10.3% to P4.662 trillion or 23.3% of the GDP. Avisado said this year s disbursements cover efforts on health, socioeconomic recovery measures, as well as infrastructure projects.
Moderna filed for Philippine EUA, says Galvez By JON VIKTOR D. CABUENAS, GMA News
Published April 26, 2021 3:30pm Moderna Inc. has filed its application for an emergency use authorization (EUA) for its COVID-19 vaccine in the Philippines, vaccine czar Carlito Galvez Jr. announced on Monday. During the Sulong Pilipinas Forum, Galvez said the application was made on Monday through Zuellig Pharma Corp. This afternoon Moderna, through Zuellig, has submitted its application, he announced virtually. No further details were given. The Food and Drug Administration (FDA) earlier this month said it was just waiting for Moderna to file an EUA for its COVID-19 vaccine.