THE Department of Budget and Management (DBM) yesterday said the government has allotted at least P206.5 billion worth of subsidies next year in budgetary support for vulnerable sectors amid surging commodity prices caused by global inflation.
In a statement released through the Office of the Press Secretary, the DBM said the amount covers cash transfers and other subsidy programs by various agencies such as the P165.4 billion for the Department of Social Welfare and Development, and P22.39 billion for the Medical Assistance to Indigent and Financially — Incapacitated Patients under the Department of Health.
The fund also includes the P14.9 billion for the TUPAD program of the Department of Labor and Employment, P2.5 billion for fuel subsidies for the transport sector under the Department of Transportation, and P1 billion in fuel assistance for corn farmers and fisherfolk that will be provided by the Department of Agriculture, among others.
The DBM said allotments have likewise been set aside for the government’s “ayuda” programs, among them the Pantawid Pamilyang Pilipino Program, Social Pension for Indigent Senior Citizens, Protective Services for Individuals and Families in Difficult Circumstances, and Sustainable Livelihood Program.
On the other hand, programs to ease the impacts of the global inflation include the fuel subsidy for public transportation drivers and operators, and for farmers and fisherfolks.
The DBM said the government has also appropriated funding for other social protection programs. such as the Universal Access to Quality Tertiary Education Program (P47.4 billion), National Health Insurance Program (P100.2 billion), medical assistance to some 1.6 million indigent and financially incapacitated patients (P22.4 billion), coronavirus disease (COVID-19) compensation package of 65,293 healthcare workers (P1 billion), and public health emergency benefits and allowances of 526,727 healthcare workers (P19 -billion).
The DBM issued the statement following President Marcos Jr.’s order last Friday to ensure the continuation of support to the most vulnerable sectors in the form of distribution of cash transfers and fuel discounts to help cushion the impact of rising inflation.
Inflation accelerated to 7.7 percent in October, or higher by 0.8 percent from September’s figure.
OPS Undersecretary and officer-in-charge Cheloy Garfail said the provision of subsidies “will be part of government’s key response to rising inflation even as we continue to build on climate action and food security.”
“We assure the public that the government continues to monitor inflation and all contributing factors and will explore all other measures to alleviate its impact on our people,” Garafil said.
The National Economic and Development Authority (NEDA) has said that external pressures such as global inflation brought about by compounding factors, including the Russia-Ukraine war and fiscal instability as an effect of the COVID-19 pandemic, and domestic issues such as the impact of recent typhoons have jointly caused the surge in prices.
