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Gov’t says COVID-19 spending has reached P352.7 billion
The Philippine government has spent P352.7 billion so far in its response to the Covid-19 pandemic.
This amount represents 88.84% of the P397 billion in capital outlays that the government can tap from this year's budget.
Department of Budget and Management (DBM) Secretary Wendel E. Avisado stated that only a small portion of this accessible funding remains.
The P352.7 billion was allocated from the P4.1-trillion national budget for 2020, tax collections, savings, and borrowings from multilateral agencies.
The government plans to borrow USD5.6 billion from the Asian Development Bank to aid its Covid-19 response efforts.
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