MANILA, Philippines– The Philippine government would need to spend over P296 billion monthly to provide emergency social protection for poor and low-income families during the coronavirus lockdown, said think tank Ibon Foundation.
Here is Ibon Foundation's proposed breakdown:
P100 billion - Unconditional cash transfers for the poorest 10 million families. Each family should get P10,000.
P97 billion - Financial assistance for 9.7 million farmers and fisherfolk. Each of them should get P10,000 to keep producing goods.
P53.5 billion - Wage subsidies for 10.7 million workers in formal establishments. Each worker should get P5,000.
P26 billion - Financial assistance for 5.2 million informal earners. Each person should get P5,000.
P15 billion - Emergency relief packages for the poorest 5 million families. The package, which includes food and medicine, would be worth P3,000 per family.
P900 million - Emergency support for 1.8 million members of the Social Security System and Government Service Insurance System. Each pensioner can get P500.