Finance chief doubts cash assistance for middle class at this point

News

“I doubt it at this point in time, because when we define middle class, first of all, for those people who have regular jobs,” Finance Secretary Carlos Dominguez III said when asked by CNN Philippines¬†regarding the possibility of middle class receiving cash assistance from the government.

He added that middle class concerns on interest and loan payments were addressed in the Bayanihan to Heal as One Act.

“In fact, the Bayanihan to Heal as One Act addressed the middle-class concerns first by allowing the loans by requiring the banks not to collect loans immediately, by giving them a period to delay the payment of amortization, by not allowing the banks to charge interest on interest, and also the payments for a credit card,”¬† he explained.