Department of Finance (DOF) Secretary Carlos Dominguez III has stated that the Philippines has enough capital to fund the forthcoming purchase of the Corona Virus Disease 2019 (COVID-19) vaccine that may reach roughly Php 20 billion. This shall be distributed to more than 20 million individuals.
In President Rodrigo R. Duterte’s public address, Sec. Dominguez explained that once the Department of Health (DOH) has chosen a vaccine to distribute, the Philippine International Trading Corporation under the Department of Trade and Industry (DTI) will procure the chosen vaccine before turning it over to the DOH.
According to the Finance Secretary, the Philippine economy is in a good fiscal position to face the problems brought by COVID-19.
“The economy is not short of money. The inflation is relatively low. Ang Peso po natin ay ang (the Philippine Peso is the) strongest in Asia.”
The DOF has declared that once the COVID-19 vaccine is available, the opening of the economy will be continuous and the normal lives of the public can now return. The recovery of the economy can now occur as long as the problem in the transportation is resolved and the public is encouraged to spend more.
Report from Naomi Tiburcio
