The Marcos administration is preparing to launch another round of cash aid under the Targeted Cash Transfer (TCT) program to help ease consumers’ burden amid the continuous high inflation rate, according to Finance Secretary Benjamin Diokno.
The Marcos administration is preparing to launch another round of cash aid under the Targeted Cash Transfer program to help ease consumers’ burden amid the continuous high inflation rate, according to Finance Secretary Benjamin Diokno.
“Right now, we’re considering the two-month subsidy for consumers,” Diokno told reporters on the sidelines of the 2023 Annual Reception for the Banking Community late Friday in Manila. The Finance chief said the TCT program for consumers will be launched soon as the government has already identified the funding source.Some 9.3 million “poorest of the poor” will receive P1,000 which will be divided for distribution for two months, according to Diokno.The Philippines saw an, an acceleration which surprised economic managers. This is a fresh 14-year high or the fastest inflation print since the 9.1% recorded in November 2008.
The Finance chief said the upcoming cash aid for consumers would be an extension of the TCT program, wherein beneficiaries will receive P500 a month for six months from December 2022. The Department of Budget and Management has previously released a total amount of P10.33 billion to the Department of Social Welfare and Development covering two months of cash transfers for 10 million target household beneficiaries.Senate employees will receive a one-time
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