A surge of P21.47 billion has been released to bolster vital infrastructure and shield Filipinos from the escalating pressures of global economic instability, acting on the direct instruction of President Marcos Jr.
The swift disbursement, announced recently, aims to maintain the momentum of essential services and mitigate the ripple effects of soaring oil prices that are straining both transportation and household finances.
Budget Secretary Rolando Toledo emphasized the core principle guiding this action: every public peso must directly alleviate hardship, safeguard livelihoods, and ensure uninterrupted access to critical services, particularly during a period of unprecedented global challenges.
The government recognizes the immediate impact of rising fuel costs on everyday Filipinos and is determined to provide targeted support, ensuring no one is left to bear the brunt of these external pressures alone.
A significant portion, P2.49 billion, is earmarked for the Department of Transportation’s fuel subsidy program, offering direct financial relief to drivers and operators struggling with the increased cost of fuel.
This subsidy is designed to prevent the full burden of rising oil prices from being passed on to commuters, maintaining affordable fares and ensuring continued access to transportation for millions across the nation.
The largest allocation, P18.65 billion, has been directed to the Department of Public Works and Highways, fueling the continuation of crucial infrastructure projects nationwide.
An additional P324.36 million is specifically designated to expedite the completion of infrastructure projects funded through foreign assistance, ensuring these vital developments reach fruition without delay.
Throughout the entire process, stringent financial controls are in place, guaranteeing responsible budgeting, meticulous accounting, and thorough auditing to protect public funds and ensure assistance reaches those who need it most.
