Finance Secretary Ralph Recto defended the transfer of unused PhilHealth funds, along with those from other government-owned corporations (GOCCs), into the national budget.
Speaking before the Supreme Court, Recto described the move as a practical approach to avoid borrowing more funds abroad, particularly given the economic damage caused by the pandemic.
He highlighted that by 2022, the national debt had risen significantly, and the current administration aims to reduce this debt without passing the burden to future administrations.
Recto explained that sweeping idle funds from GOCCs, including PhilHealth, is in line with the government’s fiscal stability goals and will support key government programs and economic recovery.
He also emphasized that the transfer of these funds is a temporary, legal measure to help the country recover, likening it to a “Bayanihan 3” that uses existing resources rather than imposing new taxes.
Source: PhilNews24 | April 3, 2025
