Metro Manila (CNN Philippines, September 15) — Farmers and fisherfolk may expect increased assistance from the government as the Department of Budget and Management (DBM) doubled their allocation under the proposed ₱5.268-trillion national budget for 2023.
In a statement, DBM Secretary Amenah Pangandaman said the amount is higher than the ₱500 million earmarked this year.
Of the ₱1 billion, the budget of the Department of Agriculture for corn farmers is bigger at ₱510.45 million, while the Bureau of Fisheries and Aquatic Resources may get ₱489.6 million.
“Of course, providing better support to our producers is vital in achieving food security which is one of the near-term goals of the administration,” she said in the statement.
The DBM said the fund would be used to finance fuel discounts to qualified farmers and fisherfolk who own and operate agricultural and fishery machinery individually or through a farmer organization, cooperative, or association.
Its guidelines for the implementation, however, are yet to be finalized amid a condition that the subsidy would be released once the three-month average of Dubai crude oil price reaches or exceeds $80 per barrel.
The DBM also noted that ₱10 billion will be allotted for the Rice Competitiveness Enhancement Fund.
