Philippines plans record $86b 2021 budget for post-pandemic recovery

News Desk :
The Philippine government is seeking a record 4.3 trillion peso ($85.89bn) budget for 2021 focused on reviving a coronavirus-hit economy expected this year to shrink for the first time in two decades, a top official has said.
The administration of President Rodrigo Duterte faces the enormous task of resuscitating growth and creating jobs in 2021, before his six-year term ends in June of the following year.
The budget proposal, set to be submitted to congress when it resumes session next month, is 5 percent higher than this year’s 4.1 trillion pesos ($81bn).