title: Duterte eyes sale of gov't assets if no sufficient Covid-19 funds

President Rodrigo Duterte has suggested selling government assets if funds for the Philippines' response to the coronavirus disease 2019 (Covid-19) run out, but officials have clarified that this is a last resort and not an immediate action.

Duterte's statement during a speech aired past midnight on Thursday was interpreted by some as indicating that government funds are exhausted. However, Presidential Spokesperson Salvador Panelo clarified that Duterte meant to say the funds are limited and not infinite.

The President emphasized that selling public properties would be his last resort if there is no other source of income for the government's efforts against the virus.

Duterte has proposed selling state-owned institutions such as the Cultural Center of the Philippines (CCP) and Philippine International Convention Center (PICC), among others, to raise funds. He assured that any money raised would be distributed to those in need.

Finance Secretary Carlos Dominguez III has assured Duterte that the government can still generate funds through borrowing to combat the pandemic.