MANILA — Malacañang Palace said the government is not considering borrowing from international lending institutions to fund its response to the ongoing conflict in the Middle East.

Palace Press Officer Undersecretary Claire Castro said the government currently has no plans to secure additional loans for the crisis response.

“Sa ngayon po ay wala pong napabanggit patungkol po diyan. Kinausap po natin at tinanong po natin ‘to mismo kay Secretary Go ng Department of Finance. Sa ngayon po ay walang balak,” Castro said during a press briefing.

“Nothing has been mentioned about that. We personally asked Department of Finance Secretary Frederick Go. There’s no plan at this time,” she added.

Castro also said that the government has sufficient funds to support its measures in addressing the situation.

The Palace official’s statement comes as rising tensions in the Middle East have pushed fuel prices higher.

Earlier, Ferdinand Marcos Jr. ordered the immediate release of ₱5,000 in fuel subsidies for public transport drivers affected by the increase in oil prices.

The government also said it is closely monitoring how the fuel price hikes could affect the cost of basic commodities in the country.