As of May 17, 68.8 million out of the target 90 million Filipino population have already been fully vaccinated. Now on the Russia-Ukraine conflict, the channel through which we see the most material impact is on domestic prices, but even here, we expect this to be manageable.
We have traditionally communicated our (re-)calibrations of the APP in terms of two parameters: the pace of monthly purchases and an intentional end date, which is however always conditional on a sustained adjustment.