More Cash Aid to Be Included in 2023 National Budget Says NEDA

At a recent press briefing, NEDA Secretary Arsenio Balisacan said that the current government administration does not plan on adding more fuel subsidies for the year but more cash aid can be expected in the 2023 national budget.

Sec Balisacan also denied proposals for universal subsidies targeting oil and food expenses for all Filipinos in light of high prices. He says that due to the COVID-19 pandemic, the current administration does not have the resources to increase subsidies for this year.

“What we can do is focus on the limited resources we have in addressing the needs of the poor and the vulnerable,” says the NEDA head.

According to Sec Balisacan, the government has an ongoing subsidy program that targets households part of the poorest 50% income earners which comprise public utility vehicle (PUV) drivers and operators, fisherfolk, and farmers.

The Duterte administration set aside a total of ₱47.5 billion worth of financial assistance to sectors worst affected by high oil prices. Out of the ₱47.5 billion, ₱41.4 billion was allocated to the bottom 50% of households as unconditional cash transfers, ₱5 billion was allocated for PUVs fuel subsidies, and ₱1.1 billion in fuel discounts for producers of agricultural products.

The Department of Budget and Management (DBM) has released ₱6.2 billion for cash subsidies intended for beneficiary households and ₱3 billion for fuel discounts and subsidies to the Department of Social Welfare and Development (DSWD).

DBM Secretary Amenah Pangandaman mentioned earlier that the current administration is looking into a “slightly” bigger 2023 budget. The previous Duterte administration set the last budget at a recorded ₱5.268 trillion.

Source: Inquirer