Gov't to give P500 'ayuda' for 2 months to 9.3M households: Diokno

Job Manahan, ABS-CBN News

<figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2493257" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div><p>MANILA<strong> (2nd UPDATE) </strong>— The Philippine government will provide P500 for 2 months to some 9.3 million households to help them cope with quickening inflation, Finance Secretary Benjamin Diokno said Tuesday. </p><p>Diokno said government allotted P9.3 billion for the targeted cash transfer program. </p><p>&quot;Napakaimportante din na since mataas ang inflation, ipagpatuloy natin ang mga ayuda na binibigay natin sa mga kailangan,&quot; the finance chief said. </p><p>The funding source has already been identified and this will be released &quot;in a few days or weeks,&quot; he said. </p><p>The list of the 9.3 million beneficiaries, he said, will come from the Department of Social Welfare and Development. </p><p><strong> P26.6 BILLION IN SUBSIDIE</strong>S </p><p>Government will also shell out P26.6 billion as continued provision of subsidies for the vulnerable sector. This includes expanding the &quot;Kadiwa&quot; program, fuel discounts, and fuel subsidy to the transport sector.</p><p>Government will provide P13.3 billion for fertilizer discounts, then the P9.3 billion for the targeted cash transfer extension for poor households. </p><p>This was followed by some P3 billion fuel subsidy for the transport sector and a P1 billion fuel discount to farmers and fisherfolk. </p><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2492681" width="100%"></iframe></figure><div class="iwantbar"><em>Video from RTVM</em></div><p>Aside from subsidies, the administration is also pushing to make monetary and fiscal policies more responsive to curb inflation, the Finance chief said. </p><p>“In order to tackle inflation, talagang whole of government approach,” he said. </p><p>“So ginagawa ng monetary policy &#x27;yung dapat niyang gawin, so ang pressure ngayon is on the fiscal side. Kailangan natin tukuyin &#x27;yung mga presyo ng commodities,” he said. </p><p>President Ferdinand Marcos Jr. has created a committee that would closely monitor market prices and the importation of resources, he said. </p><p>The administration is also counting on the legislative branch to pass several measures to improve the productivity of agricultural players. Among these are as follows:</p><ul>	<li>New Agrarian Emancipation Act</li>	<li>National Land Use Act</li>	<li>Livestock Development and Competitiveness Bill</li>	<li>Amendments to the Philippine Crop Insurance Corporation Charter</li></ul><p>“These will allow farmers to focus now on their efforts to increase production,” he said. “We have to focus on agricultural production and productivity,” he said.</p><p>Inflation slowed down in February to 8.6 percent from 8.7 percent in January, the Philippine Statistics Authority said. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/03/07/23/inflation-slightly-eases-to-86-percent-in-february-psa">Inflation slightly eases to 8.6 percent in February: PSA</a></li></ul><p>The PSA attributed this to the recent slower movement of transport-related prices including gasoline, diesel and motorcycles. </p><div><strong>— With a report from Katrina Domingo, ABS-CBN News</strong></div>

Diokno said government has allotted P9.3 billion for the targeted cash transfer program. 

Gov't to give P500 'ayuda' for 2 months to 9.3M households: Diokno | ABS-CBN

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Gov't to give P500 'ayuda' for 2 months to 9.3M households: Diokno

Gov't to give P500 'ayuda' for 2 months to 9.3M households: Diokno

Job Manahan,

ABS-CBN News

Published Mar 07, 2023 12:12 PM PHT

|

Updated Mar 08, 2023 12:21 AM PHT

Read More:

inflation

9.3 million households

targeted cash transfer

ayuda

P500 ayuda

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