Philippine economy was badly hurt by the pandemic Covid-19. Entrepreneurs were forced to close down temporarily their businesses to control the spreading of the virus. As a result, ordinary people lose their sources of income and purchasing power. In order to ease the current situation, the Congress enacted in a special session and grants the President additional powers to manage the crisis. This is Republic Act No. 11469 known as “Bayanihan to Heal as One Act.” The law gives the President the authority to divert and use the P275 billion or 62% of the approved P438 billion budget for 2020.As an economist, canthe decision to use the 62% of the approved budget solve the problem? Write your answer in a 1 whole sheet of paper.
Situation:
Philippine economy was badly hurt by the pandemic Covid-19. Entrepreneurs were forced to close down temporarily their businesses to control the spreading of the virus. As a result, ordinary people lose their sources of income and
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