“So far, I think we’re in good shape… For the immediate future, we have everything we need,” Spokesman Harry Roque said addressing the expiration of the Bayanihan to Heal as One Act. “I guess the problem will be in the medium term when the equipment that we have on storage will be used up.”
The Senate adjourned session without final approval of a bill that will extend the validity of some provisions of Bayanihan Act.
The bill incorporated a stimulus package, which caused “differences with the executive branch,” said Roque. Finance Secretary Carlos Dominguez III “does not want the stimulus package to be something we can’t pay for,” said the Palace official.
As of mid-May, the Philippines has secured some $4.55 billion in foreign loans from different financial institutions for its COVID-19 response, according to the Department of Finance.
