A research group urged the government to allocate more funds for the local coronavirus disease 2019 (Covid-19) response and to focus less on the country’s sovereign credit rating.
The Department of Labor and Employment (DOLE) endorsed on Sunday the proposal to allocate P155 billion in stimulus funding for wage subsidies for workers and job creation to restart the economy.
A House committee approved on Tuesday three crucial bills to help ease the adverse effects of the coronavirus disease (Covid-19) on the economy and workers.
Finance Secretary Carlos Dominguez III has asked the Senate to consider the reduction of the corporate income tax rate to 25 percent from 30 percent starting July 2020.
Benedicto Yujuico, the PCCI president, said the roadmap prioritizes for recovery land transportation, the agri-fisheries sector and its supply chain, construction, and micro, small-medium enterprises.