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The government has sufficient calamity funds available for its use in response to upcoming typhoons until the end of the year, the Palace said on Monday.
Presidential Communications Office Secretary Cesar Chavez made the statement during an ambush interview after the signing of the new law titled Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy Act.
Chavez said the calamity funds usually run out around September each year.
But he also guaranteed that the government has adequate sources of funding.
“In-assure tayo ng Department of Budget and Management na may pondo tayo,” he said.
