MANILA, Philippines – President Rodrigo Duterte has enacted into law the Bayanihan to Recover as One Act or Bayanihan 2, which seeks to allocate P165.5-billion-fund to address health and economic problems brought about by the coronavirus disease 2019 (COVID-19) pandemic.
Senator Christopher Lawrence “Bong” Go announced the development on Friday.
The stimulus package consists of P140 billion worth of regular appropriations and a standby fund of P25.5 billion to help sectors and industries heavily-hit by the pandemic.
It also seeks to provide funds for the procurement of additional COVID-19 testing equipment as well as the implementation of assistance programs for displaced workers, low-income households and other sectors.
The law also sets aside funds for cash subsidies ranging from P5,000 to P8,000 for low-income households in areas under granular lockdown, those with recently-repatriated overseas Filipino workers, as well as employees displaced by the pandemic.
Similar to Bayanihan 1 law, the measure allows President Rodrigo Duterte to realign funds for pandemic-related expenses.
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