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1.2-million employees receive P10-billion aid under wage subsidy program

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The Department of Finance (DOF) on May 8, 2020, disclosed 1.2 million employees have been given aid amounting to Php 10.1 billion under the Small Business Wage Subsidy (SBWS) program.

The DOF disclosed around 2.6 million beneficiaries have been validated.

DOF Assistant Secretary Tony Lambino said the agency will study if the deadline of application on the subsidy program will be extended. Lambino reminded those who have finished their applications to check their inbox if they have received emails requesting to correct information.

He added they will have until May 11 to fix the said information and provide the right number.

Meanwhile, the National Economic and Development Authority (NEDA) expects that the easing off of lockdown in some provinces will help in the country’s economic recovery, following the recorded 0.2 percent contraction in the economy during the first quarter of the year.

An estimated 75 percent of workers are expected to return to work under the general community quarantine.

NEDA Acting Secretary Karl Chua said the tax reforms of the Duterte administration played a big role in the COVID-19 response, especially in terms of funding. (Naomi Tiburcio, PTVNews)

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