This March 6, 2020 file photo shows Finance Secretary Carlos Dominguez 3rd speaking during a briefing with members of the Investment Coordination Committee at the Department of Finance in Manila. (Photo by J. Gerard Seguia)
The government is seeking up to P160 billion for its economic stimulus package, nearly half of which would be used as capital for and investments in state-owned banks, as well as loan guarantees, which could result in economic activities worth almost a trillion pesos, according to the Department of Finance (DoF).