Malacanang said on Monday the government has sufficient fiscal stimulus as of the moment and there is no need for the passage of Bayanihan 3.

But Presidential Spokesperson Harry Roque said the Palace appreciates the move of House Speaker Lord Allan Velasco in pushing for the P420-billion fund under the Bayanihan 3 to help the country recover amid the coronavirus pandemic.

"Well, we appreciate the policy initiative of Speaker Velasco. But our position is consistent that we have enough fiscal stimulus now in our annual budget and we still have to implement the Bayanihan 2," he said in a televised press briefing.

He said the Bayanihan 3 will only be needed if the government realizes that it needs more funds.

Over a hundred other congressmen have expressed support to Velasco's bill dubbed as the "Bayanihan to Arise as One Act" of Bayanihan 3. Celerina Monte/DMS