Philippine President makes a surprise move, giving special reward to hero Yulo who won 2 Olympic gold medals

The Philippine Presidential Communications Office (PCO) confirmed on August 14 that Mr. Marcos awarded Carlos Yulo 20 million pesos (more than 8.7 billion VND) in bonus, double the amount stipulated by law. The Philippine President also awarded the athlete the Presidential Merit Medal to honor the country's best sports achiever in 100 years. Mr. Marcos also awarded an additional 2 million pesos to Villegas and Petecio.

Philippine President Ferdinand Marcos Jr. (right) welcomes Carlos Yulo at Malacanang Palace

"The prize money is beyond what is prescribed by law. It is the president's recognition of the hard work and dedication of the athletes who have brought joy and pride to the entire nation," said the PCO.

Under the National Athletes and Coaches Benefits and Incentives Act, an Olympic gold medalist will be entitled to an incentive of P10 million; Olympic silver medalist P5 million; and bronze medalist P2 million.

Philippine President Ferdinand Marcos Jr. awards Carlos Yulo with a bonus

President Marcos also presented P1 million to the 2024 Olympic athletes and P500,000 each to their coaching staff. Earlier, on August 13, the President's family also welcomed Carlos Yulo and the 2024 Olympic athletes at the Malacanang Palace. He acknowledged the athletes' hard work and sacrifice, noting that they have shown the great Filipino spirit in this year's Olympics. The President said their performance and success means a lot to all the Filipinos who cheered during the event.

The Philippines finished the 2024 Olympics in 37th place in the medal tally, the best among Southeast Asian nations.

A large crowd of Filipinos welcomed the Philippine sports delegation.

The Philippine House of Representatives held a reception on August 14 to honor Carlos Yulo and 21 Olympic athletes. Yulo received at least 14 million pesos from the House for his efforts to win two gold medals, while Petecio and Villegas each received 2.5 million pesos for their bronze medals. The remaining Olympians who did not win medals were also given consolation prizes of 500,000 pesos each.

Aside from honoring the athletes, Philippine House Speaker Martin Romualdez also took the opportunity to call for amendments to the National Athletes and Coaches Benefits and Incentives Act.

The Philippine Olympic delegation was also warmly welcomed with a parade in Manila with the participation of thousands of people on the afternoon of August 14. The parade ended at Rizal Memorial Stadium, where a ceremony was held to honor the athletes.

Source: https://thanhnien.vn/tong-thong-philippines-lam-dieu-bat-ngo-tang-thuong-dac-biet-nguoi-hung-yulo-doat-2-hcv-olympic-185240814174741616.htm