UPDATE 1-Philippines' parliament approves $92.5 bln budget for 2021 coronavirus recovery

* National budget for 2021 up 10% versus 2020
* Budget aims to restore economic growth, combat COVID-19
* Lawmakers grant Duterte anti-red tape powers

(Adds details, quote from House Speaker and background)
By Neil Jerome Morales
MANILA, Oct 16 (Reuters) - The Philippines' lower
parliamentary house on Friday approved the 2021 budget, after a
leadership row nearly derailed debates on the spending plan
aimed at helping the economy recover from the coronavirus
pandemic.
The record 4.5 trillion pesos ($92.5 billion) budget bill,
approved by 257 lawmakers with six voting against, now passes to
the senate for further hearings.
A joint congressional session will then finalise the
spending programme before it is signed by President Rodrigo
Duterte, who called a special session of parliament last week
for budget hearings. Allies of Duterte dominate both chambers of congress.
Ministries of education, public works and interior bagged
the most budget at 754 billion pesos, 667 billion pesos and 246
billion pesos, respectively.
The firebrand Philippine leader had urged lawmakers to
resolve a leadership row that threatened to delay the passage of
next year's budget, something Duterte cannot afford as he nears
the end of his single six-year term. The parliament elected a
new house speaker on Tuesday. The Philippine economy was one of Asia's fastest-growing
prior to the pandemic that resulted in recession and millions of
jobless Filipinos. The World Bank forecasts the Philippine
economy to contract by 6.9% this year, the biggest decline since
the 1980s and worse than the government's projected 5.5% fall.
"Next year's budget requires us to carefully strike a
balance in providing the fiscal stimulus for economic recovery
while containing the spread and mitigating the effects of
COVID-19," House Speaker Lord Allan Velasco said in a speech to
close the four-day special session.
Lawmakers also approved a bill granting Duterte special
powers against red tape during national emergencies like the
pandemic. It allows Duterte to fast-track the issuance of
permits to projects like key infrastructure programmes critical
to lifting economy and help attract investors.
($1 = 48.65 Philippine pesos)