PRESIDENT Rodrigo Duterte said Friday the Philippines would borrow and sell assets if necessary to fund its pandemic response, which has so far cost P352.7 billion.
Finance Secretary Carlos Dominguez said cash is “sufficient” as of now. He said the government was spending from the P4.1 trillion national budget for 2020, tax collections, savings, and additional borrowings from multilateral agencies.
“So far, sufficient ang cash natin, pero naiipit tayo sa budget allowance,” Dominguez said.
President Rodrigo Duterte on Friday extended the lockdown in Metro Manila and other high risk areas by 15 days to May 15.
“There is no telling how long gaano katagal COVID sa buhay natin…” he said.
“If the funds are not sufficient, they will have to borrow. If the borrowing is not enough, we might sell the assets,” he said.(ABS-CBN)
