Vice-President Leni Robredo expressed her support for the 1.3-trillion-peso stimulus package, saying such intervention is needed to help hard-hit sectors recover from the pandemic and ensuing economic crisis.
Robredo said aid is urgently needed by micro, small and medium-sized enterprises which account for 90% of all businesses in the Philippines. MSMEs are expected to receive 10 billion pesos under the Accelerated Recovery and Investments Stimulus for the Economy bill.
She said, “It is imperative that we help them recover from the losses of the pandemic so that the economy may fully be restarted.”
The stimulus package will also allocate 110 billion pesos for wage subsidies, 30 billion pesos for cash-for-work programs, and 58 billion pesos for the tourism sector.
Robredo’s recommendations from June 30 were made public in response to the Palace’s comments that while the proposals were welcome, they were “nothing new.”