NextGen Day

On Thursday, President Ferdinand R. Marcos Jr. expressed his desire to “scale down” the national government’s cash transfer programs for underprivileged Filipinos once they are able to support themselves.

The distribution of financial subsidies to vulnerable sectors is the Philippine government’s current response to the growing costs of basic commodities and petrol, Marcos acknowledged during the question-and-answer session of the Asia-Pacific Economic Cooperation (APEC) CEO Summit in Bangkok, Thailand.

This is not what we would prefer to do. Direct cash transfer payments are not, in my opinion, all that popular. However, it is the only way we can improve our people’s circumstances, according to Marcos.

Marcos, though, expressed hope that the government would eventually stop providing monetary assistance once it had successfully reduced the nation’s poverty rate.

He claimed that efforts to support initiatives to restructure the economy and increase job opportunities for Filipinos are a top priority for his administration.

“…We are hopeful that this will gradually start to decrease as more jobs are created and the economy expands. There is a lot of hope that the emergency situation will gradually settle into some kind of normalcy now that the pandemic is beginning to ease, at least in our case, he continued.

The nation’s economic managers previously declared their confidence in their ability to reduce poverty to 9% by the time they leave office in 2028.

Marcos stated last month that his administration is dedicated to providing ongoing help to vulnerable sectors that have been adversely impacted by rising consumer costs.

Marcos, who is in charge of the Department of Agriculture (DA), has promised to give priority to initiatives aimed at raising food production and bringing down food prices.

To help mitigate the effects of rising expenditures, the Department of Budget and Management has allotted PHP206.50 billion in “ayuda,” or cash assistance, in the form of cash transfers and subsidy programs under the planned 2023 national budget.

From this sum, PHP165.40 billion will be given to the Department of Social Welfare and Development for its various social assistance programs.

There will be a total of PHP22.39 billion allocated to the Department of Health to help 1.6 million poor Filipinos who cannot afford or access quality medical care, PHP14.9 billion to the Department of Labor and Employment to help displaced workers, underemployed workers, and seasonal workers find temporary work, PHP2.5 billion to the Department of Transportation to provide fuel subsidies for public transportation drivers, and PHP1 billion to the Depa.

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