(SPOT.ph) Some 9.3 million households may be receiving a total of P1,000 cash aid each under the extended Targeted Cash Transfer program to help cushion the blow of inflation, Finance Secretary Benjamin Diokno said Tuesday, March 7.
The inflation ayuda will be divided into two, or P500 for two months, he told the press during a Malacanang briefing.
"Na-identify na namin saan kukunin ang pera and siguro in a few days or a few weeks mabibigay na natin ito sa naapektuhan ng inflation," he said.
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What we know so far about the inflation cash aid
The government set aside P9.3 billion for the inflation cash aid, said Diokno.
The cash aid is part of the total P26.6 billion subsidy earmarked as aid for the vulnerable sectors. This includes fertilizer vouchers, fuel discounts for farmers and fisherfolks, and fuel subsidy for transport sectors like jeepney drivers and tricycle drivers.
Inflation slightly eased in February 2023 to 8.6% from January 2023's 8.7%, the highest inflation rate recorded since November 2008.
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