Photo courtesy: Senate of the Philippines
Senator Bam Aquino on Wednesday, April 29, called for stronger coordination between the executive and legislative branches to ensure sufficient funding for government programs aimed at mitigating the impact of the ongoing Middle East crisis on the Philippine economy.
During the resumed hearing of the Senate’s Proactive Response and Oversight for Timely and Effective Crisis Strategy (PROTECT) Committee, Aquino backed a proposed measure that would allow the reallocation of funds within the 2026 General Appropriations Act (GAA) to support urgent interventions, particularly in response to rising global oil prices.
The executive branch has proposed the creation of a ₱151-billion intervention pool intended to cushion the effects of fuel price hikes, which are expected to ripple across transportation, goods, and basic services.
Aquino emphasized the need to consolidate existing aid budgets across various government agencies to maximize resources and ensure a more efficient response.
“Iyong napakalaking budget na nakalaan sa ayuda — iba-iba po ang pangalan po niyan... iba’t ibang departamento din po ‘yan — maybe we can pool it together and use it for this crisis,” Aquino said.
He noted that streamlining and redirecting funds could help the government respond more swiftly to economic pressures brought about by international instability while ensuring that assistance reaches vulnerable sectors most affected by rising costs.
Lawmakers are expected to further deliberate on the proposal as concerns grow over the broader economic impact of tensions in the Middle East, particularly on energy supply and inflation.