Duterte OKs P200-B aid for low-income families amid COVID-19 crisis

President Duterte announced a P200-billion social protection program to aid low-income families affected by the coronavirus emergency, with the wealthy excluded from the benefits.

The massive relief assistance aims to compensate for economic losses incurred due to quarantine measures implemented to combat COVID-19.

Beneficiaries include those in the informal sector and daily wage earners who operate on a 'no-work, no-pay' basis, receiving emergency support for two months based on regional minimum wage.

The program is authorized under the Bayanihan law (Republic Act No. 11469), which grants the President additional powers to address the pandemic and allows for emergency subsidies ranging from P5,000 to P8,000 for approximately 18 million households.

Duterte also pledged assistance for farmers, fisherfolk, and small businessmen to help them cope with the health crisis and ensure food security.

The economic team is preparing a recovery package for micro, small, and medium enterprises (MSMEs) to mitigate the economic impact of the pandemic.

This financial aid is one of three government priorities, alongside securing health sector resources and implementing fiscal and monetary actions for the economy.

The President has authorized government agencies to implement temporary emergency measures, ranging from supporting health workers to providing financial aid to vulnerable families.