MANILA, Philippines — Over 330,000 residents in Manila or 15 percent of the city’s population will receive P1.7 billion in cash assistance, Manila City Mayor Isko Moreno said Monday. Speaking at the flag-raising ceremony, Moreno said the cash aid will help “cushion” the impact of rising fuel and electricity prices amid the war in the Middle East. Of that amount, P594.76 million will come from the city’s General Fund, while P1.165 billion will be released from the Trust Fund, bringing the total amount to P1,760,163,485.42. Moreno said the assistance will help residents cope with higher living costs while also supporting the local economy, noting that when people have purchasing power, businesses in the city will continue to prosper. "If we can raise the buying capacity or purchasing power of our community, then the businesses will benefit from it, the jobs will be protected, and the economy will continue to evolve—what you call the velocity of money effect," he explained