Duterte to consider special session to pass laws that will soften impact of Ukraine crisis

People cross a destroyed bridge as they evacuate the city of Irpin, northwest of Kyiv, during heavy shelling and bombing on March 5, 2022, 10 days after Russia launched a military in vasion on Ukraine.

AFP / Aris Messinis

MANILA, Philippines — President Rodrigo Duterte will consider calls for him to ask Congress to hold a special session to pass bills aimed at softening the impact of the Ukraine crisis, as officials expect the Philippine economy to be a "collateral damage" of the conflict.

During a meeting with Duterte and some Cabinet members last Monday, economic managers proposed 14 measures that seek to address the impact of the conflict between Ukraine and Russia, which is expected to affect the commodity and financial markets, investments, and the country's fiscal health.

Socioeconomic Planning Secretary Karl Chua said two of the recommendations namely increasing the petroleum buffer stock from 30 to 45 days and increasing the LPG  buffer stock from seven to 15 days require the passage of new laws. The economic team would recommend the holding of a special session if the conflict escalates, he added.

Full Story: https://www.philstar.com/headlines/2022/03/08/2165855/duterte-consider-special-session-pass-laws-will-soften-impact-ukraine-crisis