The national government will release ayuda or cash assistance worth Php 1,000 to 9.3 million Filipino households amid the skyrocketing prices of goods and services in the country.
During a press briefing on Monday, Finance Secretary Benjamin Diokno said Php 500 ayuda will be given to families for two months.
"Ibibigay na natin ito. Na-identify na natin kung saan natin kukunin 'yung pera at siguro in the few days or in the few weeks, maibibigay na natin 'to sa mga naapektuhan ng inflation," he said.
Aside from the cash transfer assistance, the government will also allot Php 6.6 billion worth of subsidies to assist the vulnerable sectors.
The assistance includes fuel and fertilizer discounts for farmers and fisherfolks. The transport sector including jeepney and tricycle drivers will also receive fuel discounts.
The country's inflation rate for the month of February eased to 8.6 percent, the first time in six months, the Philippine Statistics Authority (PSA) reported on Tuesday.
The latest figure is also lower than the expected 8.5 to 9.3 percent of the Bangko Sentral ng Pilipinas (BSP) earlier this month, attributing the increase in the prices of food items, such as pork, fish, egg, and sugar as well as the LPG prices.
