The government would need an additional P75 billion to fund the anticipated vaccination of young teenagers against the coronavirus disease 2019 (COVID-19) and the possible need for booster shots next year, the country’s finance chief said.
Carlos Dominguez, Department of Finance (DOF) secretary, told reporters in a Viber message yesterday the government will most likely need to reallocate funds to fund these, but “still maintaining an acceptable fiscal deficit.”
“With the announcement that some countries will inoculate teenagers and the expectation that we eventually will follow suit, we are anticipating an additional expenditure of about P20 billion to vaccinate the approximately 15 million kids aged 12 to 17,” Dominguez said.
“To be conservative, I assume that it will commence this year, but the final decision will be with the health authorities,” he added.
The finance chief also said that the government is also anticipating acquiring booster shots for next year, for about 85 million teenagers and adults, and this will require another P55 billion.
Dominguez discussed these in response to a query about administrative order 41 issued by President Duterte, directing all agencies of the executive department to identify savings from their respective appropriations under the 2020 general appropriations act.
Asked how much is expected to be gathered from these savings, Dominguez said that it is still to be determined.
The finance secretary earlier said that a budget of P82.5 billion was set, to vaccinate adult Filipinos against COVID-19. Most of the financing needed for the vaccination program for adults was sourced through loans from the World Bank, Asian Development Bank and the Asian Infrastructure Investment Bank.
