Lacson hits gov’t loans while under-spending

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After scrutinizing the proposed P4.1 trillion national budget for 2020, Sen. Panfilo M. Lacson noted on Friday that the Philippines is borrowing more that what it spends.

‘’We are projected to borrow P897 billion to fund a projected deficit of P677 billion. Bakit tayo uutang nang napakalaki pagkatapos ang kailangan lang nating i-cover na deficit only that much?’’ he asked.

‘’In 2019 this current year, the deficit is P558 billion. And following that trend, I suppose umutang din tayo nang mas malaki sa P558 billion. In 2018, ang deficit natin halos nasa mga ganoon din, around that much. Sa 2017, P350 billion. Ang borrowing natin, ang deficit sa debt to GDP pumalo tayo 3.2 percent, in 2017 it was 2.2 percent. So nag-jump tayo ng kauutang; malaki na utang ng bansa natin, pumalo na tayo ng P7.

‘’Pero kung taon-taon nagbi-buildup tayo ng cash di ba dapat mababawasan ang uutangin natin kasi na-buildup na cash natin? Bakit nagpo-project pa tayo umutang ng P100-B more than what we project to spend? And yet we see sa mga deliberations din na ang daming unused appropriations,’’ he pointed out. Lacson said the disbursement rates of these three agencies are disappointingly low– 36 percent to 39 percent.

 

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