Details about the Cash Assistance for Poor Filipinos amid the High Inflation in PH
CASH ASSISTANCE FOR POOR FILIPINOS – The Department of Finance (DOF) announced the amount that every beneficiary will receive.
A lot of Filipinos in the country are currently struggling financially. Many people are finding it hard to make ends meet due to the high prices of goods and services in the country now and their usually budget does not anymore fit their needs.
The inflation rate in the Philippines now is 8.2% high this February 2023. The high inflation is another constant challenge amid the fact that many people lost their jobs and businesses at the height of the pandemic and many people have yet to recover financially.
To help those who are in most need, the government is extending its cash assistance for poor Filipinos. Based on a recent report on Pep, huge amounts are also allotted for the sectors that are most affected by the high inflation rate in the Philippines now.
Based on the article, Department of Finance (DOF) Secretary Benjamin Diokno revealed that the government will release P26.6 billion for cash assistance for poor Filipinos and the sectors that are most affected amid the high inflation in the Philippines.
The government is allotting P9.3 billion for cash assistance for poor Filipinos through the targeted cash transfer. Based on the article, every beneficiary will receive P1,000 as a two-month cash aid amid the high inflation in the country. The beneficiaries are the beneficiaries of the Department of Social Welfare and Development’s Targeted Cash Transfer Program.
Based on the article, P3 billion is allotted for the transport sector and P1 billion for the fuel discount for farmers and fishermen. The government also allotted P13.3 billion for the fertilizer discount voucher program.
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