MANILA, Philippines – President Marcos Jr. seeks to provide financial aid amounting to P206.5 billion under the proposed 2023 budget to support vulnerable sectors amid rising prices of essential commodities brought by global inflation in the Philippines.
The sum of the proposed budget for next year will be distributed in the form of cash transfers and other subsidy programs by several government agencies, according to the Department of Budget and Management (DBM).
In a statement, the Office of the Press Secretary said a significant portion of the budget, amounting to P165.40 billion, would go to the Department of Social Welfare and Development (DSWD) to implement different social assistance programs.
The Department of Health (DOH) would also be given about P22.39 billion for implementing medical services under the Medical Assistance to Indigent and Financially Incapacitated Patients (MAIFIP).
On the other hand, the Department of Labor and Employment’s (DOLE) TUPAD Program will get P14.9 billion for the upcoming year. At the same time, the Department of Transportation (DOTr) will receive P2.5 billion to provide fuel subsidies to the transportation sector.
Meanwhile, the office said the government noted that the Department of Agriculture (DA) would receive an additional P1 billion to give fuel aid to fisherfolk and corn producers.
Under the 2023 National Expenditure Program, the Pantawid Pamilyang Pilipino Program (4Ps), Social Pension for Indigent Senior Citizens (SPISC), Protective Services for Individuals and Families in Difficult Circumstances (PSIFDC), and Sustainable Livelihood Program (SLP) are among the other programs who will be receiving financial support from the national government.
The House of Representatives is set to pass the 2023 national budget in the second week of December.