Budget Secretary Florencio Abad. INQUIRER FILE PHOTO
MANILA, Philippines – The Department of Budget and Management said Sunday the increase in the conditional cash transfer (CCT) budget is supposed to lower the dropout rate among poor high school students.
“The expansion of the CCT program is designed to give financial support to in-need high school students, so they’re encouraged to keep at their secondary-school education under the K-12 system and receive their high-school diplomas,” said Budget Secretary Florencio “Butch” Abad in a statement sent to media.
Amid mixed views of experts and criticism by various groups, the agency increased the proposed budget for the Pantawid Pamilyang Pilipino Program (4Ps) from P44 billion this year to P62.6 billion in 2014.
Of the total 4Ps budget proposed for 2014, P48.3 billion will support the regular CCT program, accounting for 4.3 million of the poorest households nationwide, with up to P1,400 allotted for each family.
Meanwhile, the remaining P12.3 billion will be distributed as P500 monthly cash grants to families with children aged 15 to 18. DBM estimated the expanded CCT program will benefit 10.2 million high school students.
“Without a high school diploma, the job prospects of our youth are severely limited, and this alone is a huge setback for families that are working their way out of poverty. By expanding the CCT, we can help our youth tap into more employment opportunities that will allow them to support themselves and their families in the long-run,” Abad said.
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