The Department of Social Welfare and Development (DSWD) is waiting for the Department of Finance (DOF) to release the P9.7-billion funding for financial assistance for households hit by inflation.
According to DSWD Assistant Secretary Rommel Lopez, the department is processing the release which would extend P1,000 cash aid to some 9.3 million households amid the continuous acceleration of inflation, as reported on GMA’s “24 Oras Weekend” on Saturday.
Finance Secretary Benjamin Diokno last month said the government would release the P1,000 cash aid under the extended Targeted Cash Transfer (TCT), which was launched by the previous administration.
Aside from the cash aid, Diokno said the government would also provide subsidies such as a fertilizer discount voucher, fuel discount for farmers and fisherfolk, and fuel subsidy to the transport sector affected by the higher fuel costs.
The Philippine Statistics Authority (PSA) earlier reported headline inflation at 7.6% in March, slower than the 8.6% recorded in February. Prices of food and non-alcoholic beverages grew by 9.3%.
Core inflation which excludes select food and energy items, however, climbed to 8.0% or the highest since March 1999’s 8.1%. — Jon Viktor Cabuenas/DVM, GMA Integrated News