THE Philippines will continue to run substantial budget gaps in the short term, according to Fitch Solutions, as the government strives to keep the economy afloat during the coronavirus disease 2019 (Covid-19) pandemic.

"With the Philippines still facing waves of outbreaks and its relatively slow pace of vaccinations - 1.4 percent of the population has been fully vaccinated as of June 6, compared to the global average of 5.9 percent - we believe the economy will continue to need fiscal support through 2021 and 2022," it said in a commentary released on Friday.

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