Daily News

Economic team proposes P131-Bn in relief measures, P711-Bn to revive economy

The government’s economic managers proposed to Congress P131 billion in new programs to help the vulnerable members of the population deal with the coronavirus disease 2019 (COVID-19) emergency and an economic recovery package of P711 billion. The package for relief measures is known as “Bayanihan II” as a follow-up to the initial measures contained in the Bayanihan to Heal As One Act or Republic Act 11469, according to a presentation made by the Economic Development Cluster (EDC) to the House of Representatives. The P131 billion total is equivalent to 0.67% of gross domestic product (GDP), while the P711 billion economic package is equivalent to 3.8%.