A woman wearing a face mask buys Christmas decoration, in the shopping district of Divisoria in Manila. Many Filipinos flock to this area to buy cheaper goods as they prepare for Christmas holidays in this predominantly Roman Catholic nation amid government health restrictions to help curb the spread of Covid-19. - AP
MANILA, Dec 19 (Bloomberg): The Philippines has lined up key measures to support economic recovery for President Rodrigo Duterte’s approval, as it aims for a strong rebound in 2021 after plunging into recession this year amid the pandemic.
Congress has approved a record 4.5 trillion-peso ($93.6 billion) spending plan for 2021, and allowed unspent funds from this year’s budget and pandemic relief package to be rolled over to next year. A measure helping banks manage bad loans is also up for Duterte’s approval.
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