Marcos OK'd institutionalization of social protection programs, says NEDA chief

President Ferdinand "Bongbong" Marcos Jr. has approved the recommendation for the Social Protection Floor (SPF), which aims to institutionalize the government’s current initiatives that cater to the needs of the most vulnerable Filipinos.

This was announced by National Economic Development Authority (NEDA) Secretary Arsenio Balisacan during a press briefing on Thursday. 

"The Social Protection Floor (SPF) refers to nationally defined set of basic social security guarantees that aim to prevent or alleviate poverty vulnerability and social exclusion. These guarantees provide protection to individuals and families in times of need," Balisacan said.

"The guarantees should ensure that, at a minimum, everyone in need has access to essential healthcare and basic social services. These guarantees work together to provide effective access to goods and services that are defined as necessary at the national level," he added.

Balisacan said the SPF consists of four basic guarantees that cover the entire life cycle: health, including maternity care; children, active age, and older persons.

"I would like to reiterate that social protection and human capital development are among the government’s goals as outlined in the Philippine Development Plan for 2023 – 2028; will harness the framework to attain desired social objectives such as protecting the purchasing power of Filipino families and mitigating the harmful scarring effects of the COVID-19 pandemic especially on vulnerable segments of our population," Balisacan said.

Balisacan said the approval of the government Social Protection Floor was "a significant progress in our country’s development history."

"This is a manifestation of the government’s commitment to significantly reduce poverty incidence and promote inclusive growth," he said. —VAL, GMA Integrated News