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The Philippines has borrowed more than $7.5 billion (P400 billion) from the World Bank to fund mainly the government’s pandemic response, according to the Department of Finance. ....
The Department of Finance said the government should continue its cash transfers instead of suspending petroleum taxes to tame inflation, which ballooned to a six-month high of four percent in March. ....
"Taxes are the life blood of the government and their prompt and certain availability is a.need, especially in times of national emergency," the Bureau of Internal Revenue said. ....