Gov’t subsidies, cash support to vulnerable sectors amid rising prices
The government will be doling out P206.5 billion in subsidies and cash support to the most vulnerable sectors next year amid surging commodity prices brought about by global inflation.
The Department of Budget and Management (DBM) said this amount under the proposed 2023 national budget covers cash transfers and other subsidy programs of various agencies.
The Department of Social Welfare and Development (DSWD) will get a big chunk of the budget, with P165.40 billion allocated to various social assistance programs.
About P22.39 billion will also be provided for to provide medical assistance to indigent and financially incapacitated patients through the Department of Health (DOH).
The Department of Labor and Employment (DOLE), meanwhile, will get P14.9 billion next year for Tupad, a program that provides emergency employment for displaced, underemployed and seasonal workers.
The Department of Transportation (DOTr) will get P2.5 billion for fuel subsidies for the public transport sector.
The Department of Agriculture (DA) will get P1 billion to provide fuel assistance to corn farmers and fishers.
The DA recently issued updated guidelines to provide fertilizer vouchers to farmers to boost production under the National Rice Program.
Under Memorandum Order 65, the project will cover regions planted with inbred and hybrid rice seeds except for the National Capital Region (NCR) and the Bangsamoro Autonomous Region of Muslim Mindanao (BARMM).
The DA will provide fertilizer vouchers to eligible beneficiaries which will be used in acquiring urea fertilizers in a bid to cushion the potential impact of “under application of urea fertilizer to palay production and ultimately food security.”
“The use of fertilizer vouchers offers an alternative to farmers with lowered purchasing power to buy a sufficient volume of urea recommended for their rice area,” the DA said.
A supplemental fund from an unprogrammed regular agency fund, over and above the 2022 General Appropriations Act (GAA) budget has been released to enable rice farmers to meet the recommended urea fertilizer “thereby, securing rice production in the country,” the agency added.
Other budget allocations in specific programs under the 2023 National Expenditure Program include P115.6 billion for the Pantawid Pamilyang Pilipino Program (4Ps); P 25.3 billion for Social Pension for Indigent Senior Citizens (SPISC); P19.9 billion for Protective Services for Individuals and Families in Difficult Circumstances (PSIFDC); and P4.4 billion for Sustainable Livelihood Program (SLP).
Meanwhile, the Universal Access to Quality Tertiary Education (UAQTE) Program will receive P 47.4 billion to subsidize higher and technical-vocational education while about P100.2 billion will be allocated for implementing the National Health Insurance Program (NHIP) of the Philippine Health Insurance Corp. to ensure affordable and inclusive health care.
The DBM said about P1 billion was also set aside for the COVID-19 compensation package that will cover an estimated 65,293 health care workers and PHP 19.0 billion for the public health emergency benefits and allowances of 526,727 health care workers.
Earlier, President Ferdinand Marcos Jr. ordered continued 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.
The President made the directive after inflation in October shot up to an almost 14-year high of 7.7 percent from 6.9 percent in September, driven by faster increases in the prices of food and non-alcoholic beverages.
“These (cash transfers and fuel discounts) will be part of the government’s key response to rising inflation even as we continue to build on climate action and food security,” Office of the Press Secretary officer-in-charge Cheloy Garafil said.
Garafil said Mr. Marcos also committed to support farmers and other stakeholders in agriculture in post-disaster recovery, while improving the value chain and investing in climate-smart technologies remain a priority in the medium and long-term.
“The President has also directed concerned agencies to invest in innovations and technologies to make our communities and businesses resilient amid extreme weather challenges,” Garafil added.
