Rappler
DOF says P130-B stimulus program ‘appropriate,’ as departments wish for more
Finance Secretary Carlos Dominguez stated that the proposed P130 billion stimulus package, dubbed PH-Progreso, is appropriate for the Philippines' COVID-19 response throughout the rest of the year.
Dominguez assured Senator Imee Marcos that the funds would reach even rural areas, countering her concern that the package might be inadequate.
The PH-Progreso package includes P70 billion for government financial institutions like Land Bank of the Philippines, Development Bank of the Philippines, and Philippine Guarantee Corporation.
An additional P30 billion is allocated for the emergency subsidy program to assist 9 million families, P21 billion for wage subsidy, and P10 billion for procuring additional test kits.
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The House Defeat Covid-19 Committee approved on Tuesday, May 26, 2020, an economic stimulus package worth PHP1.3 trillion to aid the country's recovery from the pandemic.
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Senate President Vicente Sotto III has proposed a P548 billion economic stimulus package through Senate Bill No. 1542 to aid the Philippines' recovery from the COVID-19 pandemic's socio-economic impacts.
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Senator Ralph Recto has proposed a "one-time, big-time" economic stimulus package to combat the economic fallout from the COVID-19 pandemic.
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The Department of Trade and Industry (DTI) is urging for the swift passage of the Philippine Economic Stimulus Act of 2020 (PESA) to provide immediate relief to workers and businesses affected by the Covid-19 pandemic.
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The House of Representatives' Defeat COVID-19 Ad Hoc Committee (DCC) approved three anti-COVID-19 measures to mitigate the pandemic's economic and social impact.
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