Paglipat ng hindi nagagamit na pondo ng PhilHealth at ilan pang ahensya sa National Treasury, ipinagtanggol ni DOF Sec. Recto sa SC; Kalihim, iginiit na ang hakbang ay para hindi na mangutang ang pamahalaan

4/3/2025

Paglipat ng hindi nagagamit na pondo ng PhilHealth at ilan pang ahensya sa National Treasury, ipinagtanggol ni DOF Sec. Recto sa SC; Kalihim, iginiit na ang hakbang ay para hindi na mangutang ang pamahalaan

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Transcript

00:00Meanwhile, the Department of Finance did what it had to do to ensure that the country can benefit from the PONDO from the town of Bayan.

00:11That's what Finance Secretary Ralph Recto said in his response to the oral arguments of the Supreme Court.

00:18Christine Sabaway of PTV Corpiliyara in Sentro ng Balita.

00:24Finance Secretary Ralph Recto defended the transfer of the idle and unused PONDO of the Philippine Health Insurance Corporation

00:32or PhilHealth and other government-owned and controlled corporations to the National Treasury.

00:38In the continuation of the oral arguments of the Supreme Court, Recto explained that this is a temporary and common-sense approach

00:45so that the government will not be able to borrow to fund the primary projects of the government.

00:51As the government's chief fundraiser, the DOF mandates the use of each PONDO

00:58to lower the government's debt and target fiscal deficit.

01:03Last year, we already hit our target of reducing this to 5.7%.

01:08This will allow us to sustainably reduce our national government debt to 56.3% in 2028.

01:17And now it is our responsibility to repay these large borrowings.

01:21We inherited this debt, but we do not intend to simply pass this burden on to the next administration.

01:29We intend to try our best to reduce it.

01:32Last year, PhilHealth transferred PONDO of P60 billion to the National Treasury.

01:38Next year, it will transfer P30 billion, but the Supreme Court issued a temporary restraining order.

01:46The Philippine Deposit Insurance Corporation also transferred P104 billion to the National Treasury.

01:52It is not allowed if a large PONDO is seen sleeping and not being used for the welfare of the people,

02:00to let it be. Sleeping funds serve no one. Every idle peso is a disservice to every Filipino.

02:10Even so, Secretary Recto said that they will follow any directive of the Supreme Court

02:16until it is discussed. But according to Secretary Recto,

02:20it is possible that the deficit target will not be reached this year.

02:24Assuming if the ruling were for 2025, that will add a fiscal pressure to our deficit.

02:31And that would entail us not hitting our deficit targets this year.

02:35And if we miss that, then we may not attain our coveted credit rating upgrade that we foresee

02:41in the next 18 months.

Paglipat ng hindi nagagamit na pondo ng PhilHealth at ilan pang ahensya sa National Treasury, ipinagtanggol ni DOF Sec. Recto sa SC; Kalihim, iginiit na ang hakbang ay para hindi na mangutang ang pamahalaan

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Transcript

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