THE DUTERTE ADMINISTRATION’S 4-PILLAR SOCIOECONOMIC STRATEGY AGAINST COVID-19
Pillar 1:
Emergency support for poor and low-income households, small business employees, and other vulnerable groups through various assistance programs and wage subsidies.
Pillar II:
Expanded medical resources to fight COVID-19 and ensure the safety of frontliners (health insurance coverage for all COVID-19 patients; special risk allowance, hazard pay, and personal protective equipment (PPE) for frontline health workers; increased testing capacity; etc.).Pillar III:
Monetary actions to keep the economy afloat and other financing support for emergency response and recovery initiatives.Pillar IV:
An economic recovery program to create jobs and sustain growth, including Bayanihan II.
KEY UPDATES IN THIS VERSION (AS OF OCTOBER 30, 2020)
- In this version, Pillar III is divided into two components. Pillar III-A, monetary actions to keep the economy afloat, and Pillar III-B, financing support for emergency and recovery initiatives. It is important to note that Pillar III-B, which mostly includes sources of funding for the four-pillar socioeconomic strategy, is not included in the combined value of the strategy (in contrast, Pillar IV, which was previously not included, is now included).
- Pillar IV is comprised of programs and initiatives under the Philippine economic recovery program, including provisions under the Bayanihan to Recover as One Act (Bayanihan II).
- Updates from the Department of Budget and Management (DBM) from the COVID-19 tracker that covers Bayanihan I expenditures (Pillar I), Bangko Sentral ng Pilipinas (BSP) on estimated liquidity infusion from monetary actions (Pillar III-A), and program updates from other government agencies (Pillars I and II) have been included in this version.
- The estimated values of the interventions, as a percentage of Gross Domestic Product (GDP), have been revised based on the latest 2020 GDP projection under the 2021 Budget of Expenditures and Sources of Financing (BESF).
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The Duterte Administration’s 4-Pillar socioeconomic strategy against COVID-19
(As of 30 October 2020)
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The Duterte Administration’s 4-Pillar socioeconomic strategy against COVID-19
(As of 17 May 2020)
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The Duterte Administration’s 4-Pillar socioeconomic strategy against COVID-19
(As of 21 April 2020)
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The Duterte Administration’s 4-Pillar socioeconomic strategy against COVID-19
(As of 9 April 2020)
OTHER REFERENCE
COVID-19 FINANCIAL AND LOAN ASSISTANCE PROGRAMS
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