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Philippines wants $26b stimulus package

International 27 May, 2020 Follow News

Philippines employees want to get back to work

The Philippines Trade Department wants lawmakers to pass a 1.3-trillion-peso ($26 billion) stimulus package that will aid the recovery of industries and their displaced workers.

Of the total stimulus being discussed at the House of Representatives, about half is planned for wage subsidies and loans for businesses hit by the lockdown, the Trade Department said. The remaining half of the proposed package will be used to build facilities for health, education and food security.

The government will “help turn the tide for businesses and workers affected by the health crisis,” Trade Secretary Ramon Lopez said. Quarantine measures will be eased further to allow more industries to operate, he said. Schools may remain shut indefinitely after Philippine President Rodrigo Duterte said he doesn’t want classes to resume until a coronavirus vaccine becomes available. Duterte also said local government units should prepare to accept tens of thousands of migrant workers expected to return in the coming months.

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