{"id":256042,"date":"2020-05-25T09:24:58","date_gmt":"2020-05-25T13:24:58","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=256042"},"modified":"2020-05-25T09:24:58","modified_gmt":"2020-05-25T13:24:58","slug":"lawmakers-urged-to-pass-stimulus-proposals-to-boost-ph-economy","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/05\/25\/lawmakers-urged-to-pass-stimulus-proposals-to-boost-ph-economy\/","title":{"rendered":"Lawmakers urged to pass stimulus proposals to boost PH economy"},"content":{"rendered":"<figure id=\"attachment_205721\" aria-describedby=\"caption-attachment-205721\" style=\"width: 2400px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2019\/03\/kng5-3.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-205721\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2019\/03\/kng5-3.jpg\" alt=\"\" width=\"2400\" height=\"1600\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2019\/03\/kng5-3.jpg 2400w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2019\/03\/kng5-3-300x200.jpg 300w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2019\/03\/kng5-3-768x512.jpg 768w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2019\/03\/kng5-3-1024x683.jpg 1024w\" sizes=\"auto, (max-width: 2400px) 100vw, 2400px\" \/><\/a><figcaption id=\"caption-attachment-205721\" class=\"wp-caption-text\">For one, the proposed FIST measure is similar to the Special Purpose Vehicle (SPV) Act of 2002 that aims to help lessen the impact of the pandemic among financial institutions. (File Photo: King Rodriguez\/Presidential Photo)<\/figcaption><\/figure>\n<div dir=\"auto\"><strong>MANILA<\/strong>\u00a0\u2013 The Bangko Sentral ng Pilipinas (BSP) said the sooner the proposed stimulus measures are approved, the better to further cushion the economic impact of the global pandemic.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">In an interview over ANC Monday, BSP Governor Benjamin Diokno said fiscal stimulus \u201cworks with a lag\u201d just like monetary policy.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\u201cSo the sooner those measures are passed, the better. So BSP, on the record, is supporting the FIST (Financial Institutions Strategic Transfer) law, the PESA (Philippine Economic Stimulus Act of 2020), and other stimulus (package proposals),\u201d he said.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">For one, the proposed FIST measure is similar to the Special Purpose Vehicle (SPV) Act of 2002 that aims to help lessen the impact of the pandemic among financial institutions.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Under this proposal, asset management corporations (AMCs) may be created where banks can sell their non-performing assets (NPAs) and the new funds can, in turn, be extended by the banks to their clients as loans.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Diokno said the proposal to reduce corporate income tax rate from 30 percent to 25 percent is one of the things \u201cthat will strengthen our position\u201d, adding that \u201cright now, the Philippines is one of the countries that will emerge from this coronavirus crisis with a lot of strength.\u201d<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">He added the government needs to build on this positive development to ensure the continued resiliency of the economy.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Diokno thus urged lawmakers to pass legislations, while sessions are being held until early June, that will further boost the country\u2019s position as an attractive investment destination.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>MANILA\u00a0\u2013 The Bangko Sentral ng Pilipinas (BSP) said the sooner the proposed stimulus measures are approved, the better to further &hellip;<\/p>\n","protected":false},"author":33,"featured_media":205721,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-256042","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/256042","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=256042"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/256042\/revisions"}],"predecessor-version":[{"id":256045,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/256042\/revisions\/256045"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/205721"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=256042"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=256042"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=256042"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}