Philippines Economic Stimulus
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About Philippines Economic Stimulus
As per official reports, a Philippines economic stimulus package has been proposed to Philippine Premier Gloria Macapagal-Arroyo by her economic advisor. Aggregate worth of economic stimulus Philippines package would be about 75 billion pesos.
About Philippines Economic Stimulus
As per official reports, a Philippines economic stimulus package has been proposed to Philippine Premier Gloria Macapagal-Arroyo by her economic advisor. Aggregate worth of economic stimulus Philippines package would be about 75 billion pesos.
This stimulus package is basically a combination of many factors – deductions in income taxes, fostering infrastructural facilities and farm expenses and rebates in electricity bills. Main purpose behind this PH economic stimulus package is to save Philippine economy from global economic recession that has kicked off after slowdown of United States economy.
Main aim of this Philippines economic stimulus package is to make sure that rate of growth and momentum of national economy is not stunted. They do not want to let go their revenue base just in order to save their economy through this Philippines economic stimulus package.
Similarity with other economic stimulus packages
This economic package is being regarded as being similar to a program that has been initiated by White House in United States of America. As per this program White House has issued tax deductions, which range between $600 to $1,200 to taxpayers in that country. White House is hoping that with this aid there would be an increased amount of consumer spending and that would help revive economy of United States.
Recently proposed Philippines economic stimulus package has also been said to be similar to economic stimulus package that had been announced in financial year 1998 by Philippine administration, which was headed by Joseph Estrada. Aggregate worth of this particular economic stimulus package was 40 billion peso.
Proposals of present Philippines economic stimulus package
A few proposals have been formulated by Joey Salceda as part of Philippines economic stimulus package. According to this proposal, income tax deductions worth 16 billion pesos would be provided to working middle class families. There would be a rebate worth 8 billion pesos for families that use up less than 200 kilowatts of electricity on a monthly basis. Expenditures of national government of Philippines is supposed to go up by 51 billion pesos in financial year 2008. These benefits have been likened to an economic equal of preemptive evacuation and they are looking to encourage domestic growth in order to firm up Philippine economy.
