The Philippine economy has emerged to be the 5th largest in Asia. However, faced with the coronavirus, economies all over the world are struggles. Therefore, many government benefit schemes have been introduced.
The year 2020, has been quite a journey of ups and downs for the Philippines. The country has dealt with issues like higher fuel taxes, Metro Manila elections, and the ongoing coronavirus outbreak.
The Government of the Philippines has been working hard to take all possible measures to further uplift the country. So, let’s learn more about the important government benefit schemes available in the Philippines right now.
The Economic Recovery Plan
The Economic Recovery Plan is articulated by the National Economic and Development Authority (NEDA) in a bid to mitigate the social and economic impact of the COVID-19 pandemic.
In the long run, this government benefit scheme will help reconstruct business and consumer confidence in addition to avoiding a prolonged economic recession.
The recently signed Bayanihan Act passed by the President, Rodrigo Duterte, is also aligned with the WHO’s guidelines for preventing the further transmission of COVID-19. It speeds up the mandate of testing kits for early detection, diagnosis, and treatment.
It also ensures COVID-19 treatment coverage under the National Health Insurance Program, with special privileges for public and private health workers. On the whole, this scheme aims to protect people and ensure economic recovery.
Seamless Coordination, Comprehensive Plan
The coronavirus “Seamless Coordination, Comprehensive Plan” is a well-strategized government benefit scheme that strives to minimize the spread of COVID-19.
This socioeconomic welfare plan is devised by NEDA and will be rolled out as a three-phased program of interventions.
Phase 1a focuses on the medical response, whereas Phase 1b and Phase 1c focus on the public health response and augmentation of health system capacity.
Phase 2 focuses on rebuilding consumer and business confidence. The third and final phase aims at resuming the normal state of economic activity. However, they aim to do this with better preparation to tackle another possible pandemic.
Lastly, the most important practice is to communicate these to the general public and build a constituency for these new programs.
Customs Modernization Project
On March 6, 2020, the NEDA Board’s Investment Coordination Committee-Cabinet Committee (ICC-CabCom) approved the Philippine Customs Modernization Project.
This scheme focuses on improving the Bureau of Customs’ efficiency by upgrading systems, procedures, and operational activities.
The government plans to achieve this with the help of information and communications technology in line with international standards. This project costs about Php 5.5 billion, of which Php 4.61 billion will be provided by Official Development Assistance.
It will ensure positive advancements in the standards of government transactions and delivery of services. Even further, the project supports the enactment of the Republic Act 10863 including other international standards with the World Trade Organization (WTO).
Enforcement Of The ‘Sin’ Tax Law
NEDA announced the enforcement of Republic Act No. 11467 earlier this year, which increases excise taxes on alcohol products, electronic cigarettes, and heated tobacco products.
This law strives to create a sustainable future for the people of the Philippines. It enables them to live a long and healthy life with an efficient healthcare system.
Mainly, this law aims to split excise tax revenues between the implementation of various new programs. Also, it will provide additional funding to help the Universal Health Care program succeed.
Furthermore, it will also help in strengthening the prevention and treatment of substance abuse, including harmful uses of alcohol. As a result, this will help Filipinos achieve their quality of life and reduce their risk for non-communicable diseases.
The Bottom Line
For more information, you can check out NEDA’s official website and view the government benefit schemes more in detail. We hope this article gives you more insight into what the government is doing to help the Philippines survive this pandemic!