In a bid to cushion the effects of global inflation, Malacañang said the Marcos administration would be providing around P206.5 billion in subsidies and cash support under the proposed 2023 national budget.
Malacañang issued this statement amid surging commodity prices caused by global inflation.
The Palace, citing the Department of Budget and Management (DBM), said the amount is composed of cash transfers and other subsidy programs by various agencies.
The Department of Social Welfare and Development (DSWD) will get a big chunk of the budget, with P165.4 billion to be allocated for the implementation of various social assistance programs.
About P22.39 billion will also be provided for the implementation of the Medical Assistance to Indigent and Financially - Incapacitated Patients (MAIFIP) by the Department of Health (DOH).
The TUPAD Program of the Department of Labor and Employment (DOLE) will be provided with P14.9 billion next year, while P2.5 billion will go to the Department of Transportation (DOTr)'s fuel subsidies to the transport sector.
Another P1 billion will be provided to the Department of Agriculture (DA) for the provision of fuel assistance to corn farmers and fisherfolk.
Other budget allocations in specific programs under the 2023 National Expenditure Program include:
- P115.6 billion for the Pantawid Pamilyang Pilipino Program (4Ps)
- P25.3 billion for Social Pension for Indigent Senior Citizens (SPISC)
- P19.9 billion for Protective Services for Individuals and Families in Difficult Circumstances (PSIFDC)
- P4.4 billion for the Sustainable Livelihood Program (SLP)
Meanwhile, the Universal Access to Quality Tertiary Education (UAQTE) Program will receive P47.4 billion to subsidize higher and technical-vocational education.
About PHP 100.2 billion will be allocated for implementing the National Health Insurance Program (NHIP) of the Philippine Health Insurance Corporation (PHIC) to ensure affordable and inclusive healthcare.
According to the DBM, about P1 billion was set aside for the Covid-19 compensation package that will cover an estimated 65,293 healthcare workers and P19.0 billion for the public health emergency benefits and allowances of 526,727 healthcare workers.
It added that in order to provide financial support to 1.6 million indigent and financially incapacitated Filipinos who are unable to afford and access quality medical care, P22.4 billion had been provided for medical assistance to the indigent and financially-incapacitated patients.
As a response to global inflation, the DBM said the 2023 budget also earmarked P2.5 billion for the provision of fuel subsidies to public transport drivers amid the increasing prices of petroleum, while the DA's fuel assistance program will receive P1 billion to alleviate the impact of rising fuel prices on local farmers and fisherfolk.