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THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
equities-3may23-2
Consensus Pricing
Consensus Pricing – June 2025
June 25, 2025 DOWNLOAD
Two people discussing a chart on a tablet
Economic Updates
Policy Rate Update: Dovish BSP Narrows IRD 
June 19, 2025 DOWNLOAD
grocery-2-aa
Economic Updates
Inflation Update: Prices rise even slower in May 
June 5, 2025 DOWNLOAD
View all Reports
BusinessWorld 2 MIN READ

Gov’t releases PHP 18.3B for cash transfer program

January 16, 2023By BusinessWorld
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THE GOVERNMENT released a total of PHP 18.3 billion in subsidies to about 9.2 million household beneficiaries as part of its targeted cash transfer (TCT) program, according to the Department of Finance (DoF).

“The TCT program intended to alleviate the initial shocks caused by high fuel prices on the most vulnerable households. Now that our economy is recovering strongly and world oil prices are gradually stabilizing, we are shifting our focus towards ensuring food security to control inflation,” Finance Secretary Benjamin E. Diokno said in a statement on Monday.

Under the program, the government granted cash payments for poor households amounting to PHP 500 per month for six months.

The program, which was launched in June last year under President Rodrigo R. Duterte’s administration, was aimed at mitigating the impact of rising fuel prices and commodities on the most vulnerable households. It expired on Dec. 31, 2022.

The last payout of obligated subsidies was distributed between Jan. 4 to Jan. 14 this year.

The program initially targeted 12.4 million beneficiaries, such as low-income households who were previously beneficiaries under the Pantawid Pamilyang Pilipino Program (4Ps) as well as some former recipients of the unconditional cash transfer program.

State-owned Land Bank of the Philippines was responsible for distributing the cash subsidy through various mediums, including cash cards, other banks, electronic money issuers, and remittance centers. — Luisa Maria Jacinta C. Jocson

This article originally appeared on bworldonline.com

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