The Philippine government should lose no time in preparing safety nets to protect Filipinos from a possible economic fallout caused by Russia’s “imminent” invasion of Ukraine, Sen. Panfilo “Ping” M. Lacson said.
Lacson, who chairs the Senate Committee on National Defense and Security, said that while Ukraine is far from the Philippines, an invasion there may have adverse effects worldwide.
“We might think that Ukraine is far away, and that there is no danger for the Philippines. We are all living in a global village. An invasion of Ukraine may adversely affect the stock markets all over the world. Prices of basic commodities and fuel may increase. We need to be prepared for this, not to mention that we are still suffering from the pandemic and are far from economic recovery,” Lacson said.
Related: Ping: Safety Nets Kailangan vs Epekto ng Posibleng Pagsakop ng Russia sa Ukraine
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