The authors of the ADB database led by Jesus Felipe included the sum of measures that provided liquidity, encouraged the creation of loans in the monetary sectors, and financed households, businesses and/or local governments that recovered from the pandemic.
Loan pledges for small businesses affected were 120 billion pesos, while long-term direct loans to businesses, farmers, fishermen, schools and local governments contributed 18.5 billion pesos.
In addition, the component of the Philippine Economic War Chest compared to COVID-19 was 58.6 billion pesos for the fitness sector and the most sensitive ranges, as well as 464.4 billion pesos in non-conditioning allocations for vulnerable sectors such as poor families, Filipino staff displaced at home and abroad. Arrangement of rice producers, taxpayers, players in the tourism and micro industry, small and medium-sized enterprises (MSMEs), among others.
To avoid double counting, the sum of the main economic measures opposed to the COVID-19 pandemic did not come with the 266.2 billion pesos of the budget budget reallocated to the reaction to COVID-19, the monetary value of the central bank to the national government 382 billion pesos, and the 206.9 billion pesos in loans and donations guaranteed through multilateral lenders such as AfDBA , the Asian Infrastructure Investment Bank (AIIB) and the World Bank, as well as aid agencies from bilateral partners such as Canada, the European Union, Japan, and the United States
AfDB’s database also pointed to other uncategorized economic measures, such as the 145 billion pesos fiscal stimulus package, the “Bayanihan 2” allocation pending in Congress.
The measures taken through the Philippines to combat COVID-19 amounted to 5.72% of gross domestic product (GDP).
If divided among the population, the package consists of capita $197.33 or more than 9,700 P for each Filipino.
On a capital-consistent basis, seven Southeast Asian countries had a greater reaction to COVID-19 than the Philippines: Singapore was priced at $16,331.80 consistent with COVID-19 consistency; Malaysia, $2,488.18; Thailand, $1,211.20; Brunei Darussalam, $741.61; Vietnam, $277.40; Indonesia$237.02; and Timor-Leste, $200.32.
The Philippines’ reaction to COVID-19 consistent with capital exceeded Cambodia ($136), Myanmar ($1.84) and Laos ($1.11).
As a consistent percentage of GDP, Brunei Darussalam’s COVID-19 package is equivalent to 2.7%; Cambodia, 8.3 consistent with one hundred; Indonesia, 6 consistent with one hundred; Laos, 0.04 consistent with percent; Malaysia, 22.1 consistent with one hundred; Myanmar, 0.13 consistent with penny; Singapore, 26.2%; Thailand, 15.9 consistent with one percent; Timor-Leste, 8.7 consistent with one hundred; Vietnam, 10.1 consistent with percent.
The Inquirer Foundation supports our leaders in the fitness industry and still accepts donations of money to deposit in the Golden Bank Current Account (BDO) – 007960018860 or to make a donation through PayMaya at this link.
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