The Philippine government recently announced that it will be providing a cash aid of PHP1000 to about 9.3 million households across the country, in an effort to ease the burden of rising prices due to inflation. This will be distributed by the Department of Social Welfare and Development (DSWD) in the coming days once the guidelines are announced.
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Department of Finance Secretary Benjamin Diokno said the cash aid, which will come from an allocation of PHP26.6 billion, would benefit farmers, fisherfolk, and those in the transport sector. The funds will also be used to provide additional subsidies such as fertilizer discount vouchers, fuel discounts for farmers and fisherfolks, and fuel subsidies to the transport sector affected by higher fuel costs. This is part of President Ferdinand R. Marcos Jr.’s initiative to provide relief to vulnerable sectors hit hardest by inflation.
PHP 500 for 2 Months (PHP 1K) Inflation Ayuda Assistance to Low-Income Filipinos in the Philippines
Diokno also shared that an inter-agency committee was established with himself and National Economic and Development Authority Secretary Arsenio Balisacan at the helm to oversee market outlooks and create other short-term measures that could help mitigate inflation through addressing supply issues and ensuring more affordable energy sources for Filipinos.
The Department of Social Welfare and Development has emphasized that beneficiaries of this cash aid program include Pantawid Pamilyang Pilipino Program (4Ps) members receiving below minimum wages, senior citizens with limited means of income as well as other low-income families struggling financially due to higher prices in goods triggered by global oil price surge caused by the Russia-Ukraine war.
The government’s aim is for these fiscal measures included in President Marcos’ agenda to help lower goods prices while making sure Filipinos are not left behind while adjusting to economic challenges brought on by current events.
Video: DSWD Prepares for Distribution of PHP 1000 Cash Aid Due to Inflation
Check out this news report by GMA News which features the Department of Social Welfare and Development’s preparation for the distribution of the PHP 1,000 cash aid.
DSWD ASec Romel Lopez explains what this ayuda assistance is about and what are the procedures to claim it. He also explains who will benefit from this cash assistance. Check out the video below:
So this is the current inflation ayuda assistance for the poorest of poor Filipinos., which is the PHP1,000 (PHP 500 two-months) cash aid from a P26.6 billion allocation for subsidies to vulnerable sectors. The funds will also be used to provide additional subsidies such as fertilizer discount vouchers, fuel discounts for farmers and fisherfolks, and fuel subsidies to the transport sector affected by higher fuel costs.
The Department of Social Welfare and Development (DSWD) will be in charge of distributing these benefits to Pantawid Pamilyang Pilipino Program (4Ps) members receiving below minimum wages, senior citizens with limited means of income as well as other low-income families struggling financially. This ayuda assistance aims to help alleviate the burden of high prices due to inflation.
This endeavor is part of the government’s initiative to mitigate inflation and ensure an affordable and reliable energy supply by addressing supply issues in the country. The administration hopes that these measures will help Filipinos adjust to current economic challenges while not leaving anyone behind.