President Rodrigo Duterte on Tuesday night disclosed that the country will borrow $300 million or around ₱14.5 billion to ensure more COVID-19 vaccine supplies for the country once they are available in the market.
President Duterte cited the vaccine developments that are ongoing in other countries, including China and Pfizer in the US whose vaccine has recently been reported to be 90 percent effective.
“But sa ngayon, magbili ka mahal. Pero as I have promised, gastos ng gobyerno itong bakuna para sa lahat ng Pilipino. Kaya umpisahan natin sa mahihirap, pataas (If you buy now, it is expensive. But as I have promised, the vaccine for all Filipinos will be shouldered by the government. We will start from the poorest),” he assured.
He also explained that the said countries will also prioritize their people and it should be expected that “half of those vaccines” will be utilized for them “within a few months until next year.”
“Basta mabakunahan kayo. Kung kailan ay maghintay lang tayo. Pera, makahiram tayo kaagad. Ang supply ang problema (You will be vaccinated. As to when, just wait. We can borrow money immediately. The problem is on the supply),” he guaranteed.
Meanwhile, Finance Secretary Carlos Dominguez explained that the country’s experience with the prevailing pandemic tells that “the economy is strong enough to recover if we enable it to do so” and that “our best recourse is to help the economy to manage the risks.”
“Managing the risks instead of avoiding them will allow us to safely open more of the economy and help Filipinos recover their sources of income,” Dominguez added.
DTI Secretary Ramon Lopez supported that the economy can further open as long as minimum health protocols are observed. – Report from Mela Lesmoras
