DOF finalizing fiscal plan to manage COVID-19 debt

Finance Secretary Carlos Dominguez III says the Department of Finance is finalizing a fiscal consolidation plan to help manage the country's debt, which has increased due to COVID-19 pandemic spending.

The plan aims to improve tax collection from wealthy individuals through better real estate valuation and may include measures to generate revenue for debt repayment.

Dominguez emphasized that the government must pay for the costs incurred during the pandemic, including vaccine expenses.