Rep. Edcel Lagman calls for a creation of a stimulus fund for the government’s social and labor amelioration programs and support for all kinds of businesses in the country amid the COVID-19 pandemic.
A lawmaker proposed on Wednesday a ₱1-trillion stimulus fund that would help provide relief to a reeling economy battered by the COVID-19 pandemic.
“The funding shall include assistance not only to vulnerable families and displaced workers but also to other affected persons belonging to the middle class,” said Lagman in a statement. The Department of Budget and Management said it has also released the additional ₱30.824-billion Bayanihan Grant on Tuesday for local government units as part of the government’s anti-COVID-19 response.The proposed stimulus package would also extend government’s help to all kinds of businesses affected by the pandemic, said Lagman, after consulting with the National Economic and Development Authority.
1. Monetization by the Bangko Sentral ng Pilipinas for budget support of an allowable portion of the country’s foreign reserves which was at a high of $83.2-billion as of end-March 2020, provided a six-month import buffer is not jeopardized.
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