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P27.1 billion spending plan readied vs COVID-19, says finance dept

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ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2020/news/03/17/tempcheck.jpg"/><figcaption>Health workers from the Valenzuela City government check the temperatures of motocycle riders entering the checkpoint between Valenzuela City and Meycauayan, Bulacan on March 16, 2020. <em>Mark Demayo, ABS-CBN News</em></figcaption></figure></div><p>MANILA - The government allotted P27.1 billion to fund measures against the COVID-19 pandemic and mitigate its economic impact, the Department of Finance said late Monday. </p><p>Aside from funding health initiatives, the package will also provide relief to people and sectors affected by the virus-induced slowdown in economic activity, the DOF said.</p><p>“We have enough but limited resources, so our job is to make sure that we have sufficient funds for programs mitigating the adverse effects of COVID-19 on our economy,” Finance Secretary Carlos Dominguez said in a statement.</p><p>The package includes P3.1 billion for the Department of Health to help stop the spread of COVID-19, including the acquisition of test kits. </p><p>The Department of Labor will spend P2 billion for social protection programs for vulnerable workers, to be used for wage subsidy and financial support to COVID affected establishments and workers. </p><p>The Technical Education and Skills Development Authority’s Scholarship Programs will spend P3 billion to support temporarily displaced workers through skills training programs.</p><p>The Social Security System will mobilize P1.2 billion to cover unemployment benefits for displaced workers.</p><p>The Department of Agriculture will spend P2.8 billion to provide loans of up to P25,000 each at zero interest for smallholder farmers and fisherfolk.</p><p>The Department of Trade and Industry will spend P1 billion for affected micro entrepreneurs/micro, small and medium enterprises (MSMEs). </p><p>The biggest chunk of the spending package will go to the Department of Tourism, which gets P14 billion.</p><p>Several lawmakers earlier urged the government to provide social safety nets for people whose livelihoods and jobs are being affected by COVID-19.</p><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/VG6KkIEp-Mo?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

<p>The government allotted P27.1 billion to fund measures against the COVID-19 pandemic and mitigate its economic impact, the Department of Finance said late Monday.</p>

The government allotted P27.1 billion to fund measures against the COVID-19 pandemic and mitigate its economic impact, the Department of Finance said late Monday.