MANILA, Philippines — The finance department asked the justice department to finally put to rest the issue on whether borrowings are considered revenue sources and therefore, can be used to fund stimulus measures the government said it cannot afford. “DOJ (Department of Justice) is currently studying the issue,” he added. A legal opinion from the justice department could break the impasse between the Executive and legislative branches over their preferred mode of stimulus to buttress economic recovery. On one hand, legislators have pushed for two stimulus bills worth more than P3 trillion to finance post-pandemic programs until 2022. “The fundamental decision is not on the size of stimulus bill, but on the level of fiscal deficit,” Finance Secretary Carlos Dominguez III said in a virtual press conference on Monday.

Source: Philippine Star June 08, 2020 11:14 UTC