Pres. Duterte to Shell Out P100 Billion for the Poor and MSMEs

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The well-loved President of the Philippines, Pres. Rody Duterte revealed to the media that he is willing to shell out P50 billion for the country’s poor and another P50 Billion for Micro, Small, and Medium Enterprises (MSMEs) for a total of P100-Billion government spending.

Pres. Duterte announced his plan of giving P100-billion to Filipino poor and MSMEs during the ASEAN Business and Investment Summit 2017. The President was quoted as saying “Most of the money will go to the poor and to  [micro, small, and medium enterprises]. Siguro P50 billion each, okay na,” the President said.

The President noted that the poor or the “small” guys in the society contribute a lot to improving the economy.

“We realized that the small guy down there contributes a lot to what is really happening before our eyes and it’s improving our economy,” he said.

The very first President from Mindanao who really showed his love for the MSMEs said that his plans for the business sector is in conjunction with the launch of the ASEAN Business Advisory Council (ABAC) mentorship program.

“I will review the budget with Secretary Diokno and maybe if I can add more I’ll ask Congress,” he said.

Last Wednesday, Budget Secretary Benjamin Diokno told reporters the government has earmarked P6.93 billion for the cash gifts and P32.84 billion for the year-end bonuses state workers will receive under the 2017 budget.

Source: PNA

Ed Umbao

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