COVID-19 Emergency Subsidy Program, LARGEST in PH history

COVID-19 Emergency Subsidy Program, LARGEST in PH history

According to the Department of Finance, the P200-B program for distribution in cash and basic needs over the next two months is the largest direct financial assistance program granted by the government to Filipino families in the Philippine history.

Finance Secretary Carlos Dominguez III said they will urgently deliver this emergency subsidy to millions of our fellow Filipinos who live day-to-day on subsistence earnings or ‘no-work, no-pay’ arrangements.

“For those who are already receiving grants from various national and local programs, the government will provide them with a top-up or additional support to meet the P5,000 to P8,000 subsidy amount. Upon a quick review of our financial situation, we discovered that more than P200-B can be made available quickly to fund this emergency subsidy. We have more than P100-B worth of cash and cash equivalents in various GOCC accounts, and another P100-B more in various national government accounts outside the Treasury Single Account (TSA),” Dominguez said.

Now, let us get to know more about the other budgetary powers granted to President Rodrigo Duterte under RA 11469 or the “Bayanihan to Heal as One” Act 

#COVID19 Emergency Subsidy Program is the largest social protection program in Philippine history, the Department of…

Posted by SMNI News on Tuesday, 31 March 2020

SMNI NEWS

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