Senator Risa Hontiveros has called on the national government to intensify its economic safeguards, arguing that current measures fall short of protecting the Philippines from the fallout of the US-Israel conflict with Iran.
The Senate Deputy Majority Leader noted that while the government has made initial efforts, the persistence of the hostilities—now approaching their second month—necessitates a more aggressive fiscal approach to combat rising oil prices and supply chain bottlenecks.
“Well mabuting pagsisimula na ‘yan. Magdadalawang buwan na ‘yung giyerang iyan, pero mas marami pa po tayo talagang kailangan gawin,” Hontiveros stated during a recent radio interview.
Proposed Relief Package
To address these challenges, Hontiveros is advocating for a ₱52.8 billion supplemental budget specifically targeted at high-risk sectors. The proposed fund includes:
- ₱38 billion for the emergency repatriation and reintegration of Overseas Filipino Workers (OFWs).
- ₱12 billion in transport subsidies to assist drivers and operators struggling with fuel hikes.
- ₱2.8 billion for immediate agricultural assistance.
Escalating Costs
The senator warned that the financial requirements could balloon if the geopolitical crisis remains unresolved.
She specifically highlighted the vulnerability of the local food supply, noting that support for the agricultural sector might need to scale up to ₱189 billion if the conflict persists through the primary farming months.
“Halimbawa na ‘yung budget support para sa mga magsasaka at mangingisda, maaaring umabot yan sa ₱189 billion kapag umabot ang crisis sa susunod na buwan ng Mayo hanggang Agosto. Dahil ‘yan pong mga buwang iyan ang ating farming season dito sa Pilipinas,” she explained.
Funding the Initiative
In response to concerns regarding the national budget’s capacity, Hontiveros revealed that her office has identified seven potential revenue streams or reallocations.
She urged the Executive branch to prioritize immediate relief over long-term infrastructure projects that are not scheduled for immediate implementation.
“May tinukoy kaming ilang mga malalaki at pang matagalang proyekto na kung later this year pa dapat gastusan, baka pwedeng desisyunan ng Executive na yung mga items na yun ang gamitin muna para lamang itawid yung ating mga bulnerableng sektor,” Hontiveros suggested.