Duterte’s vaccination drive boosts Peso.

 Duterte’s vaccination drive boosts Peso.

The Philippine peso has been on the rise lately, thanks to the country’s successful vaccination drive under the leadership of President Rodrigo Duterte. The government’s efforts to vaccinate as many Filipinos as possible have not only helped curb the spread of COVID-19 but also boosted the country’s economy.

Since the start of the vaccination program in March, the Philippine peso has been steadily gaining strength against the US dollar. As of August 2021, the peso is trading at around 50.5 to the dollar, up from 48.5 at the beginning of the year.

The increase in the peso’s value can be attributed to several factors. First, the successful vaccination drive has boosted investor confidence in the Philippine economy. With more people getting vaccinated, businesses can reopen and resume operations, leading to increased economic activity.

Second, the government’s efforts to provide financial aid to those affected by the pandemic have also helped stimulate the economy. The Bayanihan to Recover as One Act, which provides financial assistance to low-income households and small businesses, has helped ease the burden of the pandemic on the most vulnerable sectors of society.

Finally, the government’s commitment to fiscal discipline and sound economic policies has also contributed to the peso’s strength. The Duterte administration has implemented several reforms aimed at improving the country’s business climate and attracting foreign investment.

Overall, the Philippine peso’s recent gains are a testament to the government’s efforts to manage the pandemic and revive the economy. While there are still challenges ahead, such as the threat of new COVID-19 variants and the slow pace of global economic recovery, the country is well-positioned to weather these challenges and emerge stronger in the post-pandemic world.

As the vaccination drive continues and the economy recovers, the Philippine peso is expected to remain strong, providing a stable foundation for the country’s growth and development. With the right policies and strategies in place, the Philippines can look forward to a brighter future, where prosperity and progress are within reach for all Filipinos.