Villafuerte asks lawmakers to OK ‘township’ bill for PH economy

' Villafuerte asks lawmakers to OK ‘township’ bill for PH economy ' Read more👇

The lawmaker cited as reasons the United States of America’s Federal Reserve raising interest rates and world economic growth slowing because of this monetary policy, the impact of the lingering COVID-19 pandemic, and the ongoing Russia-Ukraine conflict.

“The short-term goal of a township revitalization initiative is to generate economic activity and create jobs outside Metro Manila to accelerate and strengthen the country’s recovery from the lingering pandemic plus the economic fallout from Russia’s invasion of Ukraine,” he said. However, there is no more time for the current Congress to pass HB 6970 as it will adjourn sine die in June, he cited.

The IMF said emerging economies, which include countries, such as the Philippines, should gird up for possible rough times as the US Federal Reserve started raising interest rates amid the coronavirus-induced global economic slowdown.

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MlaStandard /  🏆 20. in PH

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