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How much has gov't raised so far for P1.17-T COVID-19 response program
The Philippine government aims to raise P1.17 trillion, equivalent to 5% to 6% of the country's GDP, to fund its COVID-19 response and mitigate economic effects.
Of this amount, P568.463 billion has been raised so far for COVID-19 relief and response efforts.
A P275 billion package under the Bayanihan to Heal as One Act, intended for low-income households and healthcare services, is part of the P1.17 trillion total effort.
The Department of Budget and Management has already released P100 billion to the Department of Social Welfare and Development for cash subsidies.
The government is also negotiating loans totaling $5.7 billion from institutions like the Asian Development Bank, World Bank, and AIIB.
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President Rodrigo Duterte announced that the Philippine government has released P132.3 billion to fund the country's COVID-19 response efforts.
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President Rodrigo Duterte admitted that the P275-billion coronavirus response fund is not yet on hand, as it is still to be collected in the second, third, and fourth quarters of the year.
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The Philippine government is actively seeking and allocating funds to address its response to the COVID-19 pandemic, having already released P132.3 billion.
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The United States has provided an additional $1.3 million (Php 66 million) in aid to the Philippines to support its fight against the COVID-19 pandemic.
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Most members of President Duterte's Cabinet have voluntarily offered to give up 75 percent of their monthly salaries until December 2020 to fund government efforts against the COVID-19 pandemic.
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