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Philippine congressional panel approves up to $3.4 bln stimulus

Published 08/20/2020, 01:20 PM
Updated 08/20/2020, 01:30 PM
© Reuters.

MANILA, Aug 20 (Reuters) - A joint Philippine congressional
committee on Thursday approved a stimulus package worth up to
165 billion pesos ($3.39 billion) to aid the economy's recovery
from the novel coronavirus pandemic.
The package is worth 140 billion pesos, with an additional
25 billion pesos in standby appropriations, Senator Sonny Angara
told reporters. It includes funds for coronavirus isolation and
quarantine facilities, and vaccine purchases, he said.
The bill would be ratified later on Thursday, and then be
forwarded to President Rodrigo Duterte for signing or veto.
($1 = 48.64 Philippine pesos)

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