Marcos doubles millions of Carlos Yulo, medalist boxers

President Ferdinand ''Bongbong'' Marcos Jr. has doubled the cash rewards given to double Olympic gold medalist Carlos Yulo and bronze medalists Aira Villegas and Nesthy Petecio following their success in the 2024 Paris Olympics.

The Presidential Communications Office (PCO) on Wednesday confirmed that Marcos gave Yulo P20 million in cash on top of what is mandated by law. He also gave the double-gold winning gymnast a Presidential Medal of Merit.

Marcos also extended another P2 million each to Villegas and Petecio.

''It's on top of what is legally mandated,'' the PCO said.

''It's the President’s recognition of their hard work and dedication that brought so much joy and pride to the entire nation.''

Under Republic Act 10699 or the National Athletes and Coaches Benefits and Incentives Act, an athlete who wins a gold medal in the Olympics is entitled to a P10-million incentive; an Olympic silver, P5 million; and bronze, P2 million.

With his two golds from the floor exercise and vault events, Yulo under the law is entitled to incentives worth P20 million.

Bronze-medal winning boxers Petecio and Villegas are entitled under the law to P2 million each.

Marcos further extended P1 million each to the rest of the Olympians and P500,000 each to their coaching teams.

In his speech during the awarding ceremony on Tuesday night, Marcos acknowledged the hard work and sacrifices of the athletes. He emphasized that the athletes have shown the excellence of the Filipino spirit during the Paris Olympics.

The President said their performances and success meant a lot to every Filipino who cheered for them during their competitions.

The Philippines wrapped up the 33rd Summer Games at the 37th spot, the best among Southeast Asian countries. — RSJ/VBL/NB, GMA Integrated News