NextGen Day

Under the planned national budget for 2023, the administration of President Ferdinand R. Marcos Jr. has allocated PHP206.50 billion in monetary aid for vulnerable sectors to lessen the effects of rising commodity prices.

Malacanang stated in a press statement on Sunday that a significant portion of the budget, PHP165.40 billion, will be set aside for aid initiatives under the Department of Social Welfare and Development.

About PHP22.39 billion will be given to the Department of Health (DOH) for the Medical Assistance to Indigent and Financially Incapacitated Patients program.

The short-term emergency employment program Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers will receive PHP14.9 billion in funding from the Department of Labor and Employment, while fuel subsidies from the Department of Transportation would receive PHP2.5 billion.

One billion PHP would be given to the Department of Agriculture for a similar offer of fuel support for fishermen and maize producers.

The Pantawid Pamilyang Pilipino Program, Social Pension for Senior Citizens in Indigent Circumstances, Protective Services for Individuals and Families in Difficult Circumstances, and Sustainable Livelihood Programs are just a few of the programs with specific budget allocations under the 2023 National Expenditure Program. Other programs include PHP115.6 billion for Pantawid Pamilyang Pilipino, PHP25.3 billion for Social Pension for Indigent Senior Citizens, and PHP19.

The National Health Insurance Program of the Philippine Health Insurance Corporation will receive about PHP100.2 billion, while the Universal Access to Quality Tertiary Education program of the Department of Education, which supports higher and technical-vocational education, will receive PHP47.4 billion.

For the expected 65,293 healthcare employees who will be covered by the DOH Covid-19 compensation package, PHP1 billion will be allocated, and PHP19 billion will go toward the benefits and allowances for 526,727 healthcare workers who will be covered by public health emergencies.

1.6 million poor and financially disadvantaged Filipinos who are unable to afford and receive high-quality medical care will be supported with a total of PHP22.4 billion.

In order to help the Filipino people deal with the effects of inflationary pressures, President Marcos previously approved the continuation of emergency subsidies.

He expressed the expectation that the financial aid given to recipients will “somewhat lessen the shocks” brought on by the increase in the cost of necessities and commodities.

Marcos also emphasized the importance of taking into account the needs of the vulnerable groups most impacted by the COVID-19 outbreak and inflation.

According to figures from the Philippine Statistics Authority, the nation’s overall inflation rate increased to 7.7 percent in October 2022 from the 6.9 percent recorded in September of that same year.

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