The Department of Social Welfare and Development (DSWD) is waiting for the Department of Finance (DOF) to release the P9.7-billion funding for financial assistance for households hit by inflation.
The DSWD Assistant Secretary Rommel Lopez stated that the department is finalizing the release that would extend P1,000 financial assistance to around 9.3 million households amid the ongoing acceleration of inflation.
The government will distribute the P1,000 financial assistance under the extended Targeted financial Transfer (TCT), which was introduced by the previous administration, according to Finance Secretary Benjamin Diokno’s announcement from last month.
In addition to the cash assistance, Diokno stated that the government would also offer subsidies, such as a voucher for a discount on fertilizer, a discount on fuel for farmers and fishermen, and a fuel subsidy to the transportation industry, which would be impacted by the higher fuel prices.
According to prior data from the Philippine Statistics Authority (PSA), headline inflation decreased to 7.6% in March from February’s 8.6% rate. Food and non-alcoholic beverage costs increased by 9.3%.
