Be advised to low-income families in the Philippines, there is a PHP 1000 ayuda for inflation cash assistance that will be distributed to those in the most vulnerable sectors of society. This amount will be given to beneficiaries and is part of the extended DSWD Targeted Cash Transfer (TCT) program. The funds for this program will come from a PHP 26.6 billion allocation for subsidies to vulnerable sectors.
Also Read: Malasakit Center for Filipinos in the Philippines
The government is taking steps to address the rising inflation rate in the country, with PH Department of Finance Secretary Benjamin Diokno announcing a number of measures, including the PHP1,000 (PHP500 for two-months) cash aid for 9.3 million households under the extended Targeted Cash Transfer (TCT) program.
PHP 1K Subsidy Ayuda Program for Low-Income Filipinos
President Ferdinand R. Marcos Jr., who chaired a sectoral meeting, said his administration will continue to provide subsidies to Filipinos in the most vulnerable sectors. He added that “we continue to take steps to lower the prices of goods and provide support to Filipino people”.
Diokno also announced that Marcos would be forming an inter-agency committee that will focus on inflation and market outlooks as well as oversee government response to rising prices. The Cabinet-level Inter-Agency Committee on Inflation and Market Outlook will be co-chaired by Diokno and National Economic and Development Authority Secretary Arsenio Balisacan.
The TCT program will grant cash transfers of PHP500 for two months among beneficiaries such as members of Pantawid Pamilyang Pilipino Program (4Ps), those earning below minimum wage, senior citizens, farmers, fisherfolk, and those in the transport sector.
Alternatively, additional subsidies include fertilizer discount vouchers, fuel discounts for farmers and fisherfolks as well as fuel subsidies for the transport sector affected by fuel price surge due to Russia-Ukraine war.
All these measures are expected to help alleviate the financial struggles of low-income families amid rising costs of goods triggered by the global oil price surge. The government is confident that through improved tax collections funds will be made available for these programs which will soon be implemented across the country.
Video: Inflation Subsidy for Filipinos by DSWD
A news report from UNTV news shares details about the cash assistance due to high inflation rate in the Philippines. This is an ayuda good for two months to beneficiaries. To avail of this program, please check out the video clip below:
So this is the news update about the PHP 1000 ayuda for inflation cash assistance to be distributed to low-income families in the Philippines. The DSWD team will finalize the distribution of this assistance.
We hope that this cash assistance helps alleviate financial struggles brought about by the high inflation rate in the Philippines.
We urge all Filipinos affected by the rising inflation to take advantage of these programs and contact DSWD should they need more information or help with regard to availing of these benefits. Stay safe everyone!