House approves P1.3-T stimulus bill

The House of Representatives approved a P1.3-trillion economic stimulus package on third reading to help address the impact of the COVID-19 crisis.

The bill aims to protect up to 15.7 million workers, create three million short-term jobs and 1.5 million infrastructure jobs over three years, and assist 5.57 million micro, small, and medium enterprises.

The package includes various forms of assistance for key sectors affected by the pandemic, such as wage subsidies for critically-impacted businesses and freelancers, cash-for-work programs, and educational subsidies.