Kyle Aristophere T. Atienza
THE Philippine government may have to roll out more policy measures and increase spending for its pandemic response if the coronavirus disease 2019 (COVID-19) vaccination program is delayed, experts said.
Based on a policy database compiled by the Asian Development Bank (ADB), the Philippines’ COVID-19 response package is estimated at $21.645 billion or 5.9% of gross domestic product (GDP).
In Southeast Asia, the Philippines’ pandemic response package is the sixth-largest in terms of total amount but the fourth-smallest in terms of its size relative to economic output. To compare, Singapore’s $89-billion pandemic response package represents 25% of GDP, followed by Malaysia ($81 billion) and Thailand ($84 billion) with packages estimated at 23% and 16% of GDP, respectively.