HomeNews AlertPhilippine legislators approve funds to restart economy

Philippine legislators approve funds to restart economy

The House of Representatives’ Defeat COVID-19 Committee approved a 1.3 trillion-peso economic stimulus measure on May 26 to restart the shuttered economy that has been affected by the coronavirus pandemic.

“These measures are not the panacea to all our problems. But these pieces of legislation may be considered as the next step in our calibrated response to ease the suffering of our people,” said House Majority Leader Martin Romualdez.

“We all know that these dole-outs are not forever. We have to jumpstart our economic activities, while keeping our people healthy, the soonest time possible to ensure our survival as a nation,” said the legislator from the central Philippines.

Rep. Sharon Garin said the Philippine Economic Stimulus Act, which is co-authored by 260 legislators, will be implemented up to 2023.

“The approval of the economic stimulus package will ensure the availability of jobs and continuity of business for millions of Filipinos, maintain employment levels and expand the country’s productive capacity,” said Romualdez.

The economic stimulus program is meant to ensure business operations and jobs’ retention during the pandemic.

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