Philippines announces 526-billion-USD package to deal with COVID-19
Secretary of Philippines’ Department of Finance Carlos Dominguez III on March 16 announced a 27.1 billion peso (526 million USD) spending plan for everyone affected by the coronavirus pandemic (COVID-19).
People wear face masks in Quezon, Philippines (Source: xinhua/VNA)Hanoi (VNA) – Secretary of Philippines’ Department of Finance Carlos Dominguez III on March 16 announced a 27.1 billion peso (526 million USD) spending plan for everyone affected by the coronavirus pandemic (COVID-19).
The funds came from Philippine Amusement and Gaming Corporation, Philippine Charity Sweepstakes Office, and a grant from the Asian Development Bank.
Accordingly, the department will spend 3.1 billion peso buying more coronavirus test kits.
Meanwhile, 14 billion peso was set aside to boost the tourism industry, 3 billion peso for scholarship programmes of the Technical Education and Skills Development Authority for displaced workers, and 2.8 billion peso aid for farmers.
As many as 2 billion peso will be allotted to displaced workers, 1.2 billion peso set for Social Security System unemployment benefits, and 1 billion peso from the Department of Trade and Industry to finance small and medium enterprises affected by COVID-19.
The Government Service Insurance System will also provide a loan programme for government workers and retirees.
Funds from the government-owned and controlled corporations will be also mobilised to support airlines and the tourism industry./.
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