outbrain
Close  

Gov’t sets package to aid workers, poor families

By: - Reporter / @bendeveraINQ
/ 04:05 AM March 23, 2020

President Duterte’s economic managers are working on an additional economic stimulus package in response to the COVID-19 pandemic, this time to aid more workers and poor families affected by the ongoing enhanced community quarantine, Finance Secretary Carlos G. Dominguez III said.

Dominguez said the supplemental package was “in the works” and would mainly benefit “workers in the informal sector.”

ADVERTISEMENT

In a March 20 letter, the Financial Executives Institute of the Philippines urged Congress to unleash not only unspent budget funds but also resources of government-owned and -controlled corporations (GOCCs).

Dominguez said they were open to Finex’s proposed emergency program.

FEATURED STORIES

As far as GOCC funds were concerned, Dominguez said the departments of Health, Interior and Local Government and Social Welfare and Development together with local government units would have to determine how to disburse them—it “could result in a combination of providing food and/or cash subsidies for food, normal health care and other necessities.”

This additional aid may be extended to households who are not currently covered by the government’s Pantawid Pamilyang Pilipino Program, Dominguez said.

The economic team earlier unveiled a P27.1-billion fiscal support package for COVID-19 response, of which more than half will go to tourism-related projects and programs as the sector was worst hit so far.

Estimates of UK-based Oxford Economics had shown the domestic tourism sector’s direct and indirect receipts accounted for almost 25 percent of the Philippines’ gross domestic product, the biggest in Asia. INQ

Read Next
EDITORS' PICK
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Business, Finance Secretary Carlos G. Dominguez III
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2020 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.