Marcos Jr. to honor PH Olympians with cash incentives

President Ferdinand Marcos Jr. will honor Filipino Olympians, including gymnastics hero Carlos Yulo and boxing medalists Nesthy Petecio and Aira Villegas, upon their arrival from the Paris Olympics.

Yulo, who secured two gold medals, and Petecio and Villegas, who won bronzes, will be welcomed at Malacañan Palace by Marcos and the First Family.

Marcos is expected to announce and present specific cash incentives to the athletes during a welcome ceremony.

Under Republic Act 10699, Yulo is entitled to P20 million for his two gold medals, while Petecio and Villegas are set to receive P2 million each.

The President may also provide additional bonuses, similar to past incentives given to other medalists.

The Philippines achieved its best performance in the Olympics, with Yulo becoming the country's first double Olympic champion.