P26.6B in subsidies for vulnerable sector allotted amid high inflation —DOF
MANILA, Philippines — Subsidies worth P26.6 billion have been allotted for the vulnerable sector amid the high inflation, Finance Secretary Benjamin Diokno said on Tuesday.
These subsidies, he said, would be in the form of fertilizer and fuel discounts for farmers and fisherfolk, and fuel aid for the transport sector.
“We will also maintain Kadiwa. In fact, we will expand the Kadiwa program. We will continue the provision of fuel discounts under the programs for farmers and fisherfolk. Then, we will extend the targeted cash transfer program for 2023,” Diokno said in a press briefing.
The Kadiwa program allows consumers to purchase goods at lower than market prices by creating a direct and efficient farm-to-consumer food supply chain.
Article continues after this advertisementMeanwhile, under the cash transfer program, a cash assistance of P500 a month for two months or a total of P1,000 will be given to 9.3 million families.
Article continues after this advertisementDiokno said they have already identified the funding source and the subsidies would be distributed “in a few days or weeks.”
The country’s inflation slowed to 8.6 percent in February, according to the Philippine Statistics Authority.
