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Philippine congressional panel approves up to $3.4 bln stimulus

MANILA, Aug 20 (Reuters) - A joint Philippine congressional committee on Thursday approved a stimulus package worth up to 165 billion pesos ($3.39 billion) to aid the economy’s recovery from the novel coronavirus pandemic.

The package is worth 140 billion pesos, with an additional 25 billion pesos in standby appropriations, Senator Sonny Angara told reporters. It includes funds for coronavirus isolation and quarantine facilities, and vaccine purchases, he said.

The bill would be ratified later on Thursday, and then be forwarded to President Rodrigo Duterte for signing or veto. ($1 = 48.64 Philippine pesos) (Reporting by Neil Jerome Morales Editing by Ed Davies)