The House of Representatives is backing President Ferdinand "Bongbong" Marcos Jr.'s move of setting aside P206.5 billion worth of cash aid and assistance for vulnerable sectors under the proposed 2023 national budget.
House Speaker and Leyte 1st district Rep. Martin Romualdez declared his support to the Palace initiative ahead of the Bicameral Conference Committee hearings on the P5.268-trillion General Appropriations Bill (GAB) for next year.
According to the Romualdez, the proposed subsidies would help cushion the impact of global inflation--reflected mostly by surging local food prices--on these vulnerable sectors.
Malacañang bared over the weekend that the lion's share of P206.5 billion--specifically P165.40 billion--will be allocated for the assistance programs under the Department of Social Welfare and Development (DSWD).
Meanwhile, P22.39 billion will be set aside for the medical assistance to indigent and financially incapacitated patients under the Department of Health (DOH).
Some P14.9 billion will also be funneled to the Department of Labor and Employment’s (DOLE) Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers (TUPAD), while P2.5 billion will be used for fuel subsidies under the Department of Transportation (DOTr).
As for the Department of Agriculture (DA), the agency will receive P1 billion for fuel assistance to farmers and fisherfolk under the proposal.
The details of the 2023 GAB will be finalized during the bicam meeting between House members and senators. The budget measure would then be signed by the President.
Romualdez earlier said: “One of our main priorities is the ratification of next year’s national budget to provide social safety nets for the people and help them recover from the economic displacement caused by Covid-19."
"We will work harder for our economy to recover with agriculture as the major engine for growth and employment,” said the House leader.