The House Defeat COVID-19 Committee Sub-committee on Economic Stimulus Package tackles the strategies needed to pump up the economy despite the COVID-19 crisis in the country.
The House of Representatives tackled on Tuesday the steps needed to alleviate the economic impacts of the COVID-19 crisis in the country.
“The mandated Bayanihan to Heal as One Act is only good for three months. We need an economic stimulus in order to help Filipinos secure their sources of income and be able to feed their families,” said Garin. She said the government can set aside around P140 billion for interest-free loans for MSMEs and P119 billion grants for the improvement of their operations.
“Temporarily, the government had to break its cardinal rule of not giving fish to the fishermen. But government cannot do this for a long time. The government fixes the boat and ensures business continuity. In this way, we protect the Filipino worker,” Quimbo added. Salceda estimated that the proposed total stimulus package will restore the Philippines’ economic growth into a positive trajectory by 2023. The projected national economic growth with stimulus is pegged at 5.3 percent, compared to four percent without a stimulus.
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