DBM releases P5.2B for cash aid program | Inquirer Business

DBM releases P5.2B for cash aid program

/ 09:57 AM December 01, 2022

More cash aid for Filipinos most affected by rising prices of fuel and other commodities is coming as the Department of Budget and Management released P5.2 billion to cover one month worth of funding for the government’s targeted cash transfer (TCT) program.

According to the DBM, the fresh funds were charged against “unprogrammed appropriation” under this year’s national budget.

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Also, the fund is intended to cover part of the third tranche of the TCT program, which is expected to benefit about 9.8 million Filipinos.

The TCT program, administered by the Department of Social Work and Development (DSWD), grants unconditional cash transfers to the most affected households, in the amount of P500 per month for six months.

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Before this third tranche, the DBM previously released a total amount of P10.33 billion to the DSWD covering two months of cash transfers for 10 million beneficiaries.

Also, this latest release of funds is part of the P9.1-billion budget needed to cover the one-month grant for the 9.8 million identified beneficiaries plus three month worth of grants for 2.6 million additional beneficiaries.

The General Appropriations Act of 2022 provides that unprogrammed appropriations may be used when there are new revenue collections that were not identified in the original revenue sources stated in the national budget.

“The DBM fully supports the projects and programs that provide social assistance to our fellow kababayans,” Budget Secretary Amenah Pangandaman said.

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TAGS: Budget, Cash Aid, DBM
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