Manila Mayor Francisco "Isko Moreno" Domagoso announced on Thursday, March 19, the release of P1,094,082,181.12 to all 896 barangays in the city. The fund aims to support residents as global oil prices surge to unprecedented levels due to the ongoing conflict in the Middle East.

Domagoso made the announcement during his Talk to the People segment on Facebook, saying that the budget comes from Real Property Tax (RPT) and Barangay Clearance revenues collected by Manila's barangays.

"Sa gitna ng pandaigdigang krisis sa langis, layunin ng hakbang na ito na palakasin ang kakayahan ng mga barangay na maghatid ng mas mabilis at episyenteng serbisyo, mapataas ang purchasing power ng mga Manileño, at mapasigla ang lokal na ekonomiya ng kapitolyo ng bansa (Amid the global oil crisis, this measure aims to strengthen the ability of barangays to deliver faster and more efficient services, increase the purchasing power of Manileños, and revitalize the local economy of the nation's capital)," he explained.

Earlier, the mayor stressed that the city government is stepping up efforts to address rising prices of goods by combining direct financial relief and aggressive public spending, as inflation remains a top concern for Filipinos.

He said the city is primarily focusing on keeping money moving in the local economy to soften the impact of higher fuel costs, which continue to push up the prices of basic goods and services.

“Our plan is simple: stimulate the economy, augment what our people have, and cushion the impact of rising prices on every Manileño,” Domagoso stressed.

"At the center of the plan is the P1.76-billion stimulus package, meant to put cash directly into the hands of residents and keep spending moving in local communities. The stimulus will directly benefit around 330,000 Manileños, or about 15 percent of the city’s population, with a significant portion allocated to social amelioration programs covering senior citizens, solo parents, and persons with disabilities (PWDs), as well as educational assistance and incentives for public sector workers," he added.

The city government is also pushing ahead with major infrastructure projects to create jobs and keep economic activity going. Domagoso noted that Manila is combining direct cash aid with ongoing government spending to keep the local economy resilient.