GOCC subsidies increased 20.95% year-on-year by end-February, reaching P12.72 billion, primarily due to El Niño's impact on agri-products.
Government-owned and -controlled corporations (GOCCs) received 20.95% more subsidies year-on-year by end-February, reaching P12.72 billion, according to the Bureau of the Treasury. The National Irrigation Administration received the largest share at P7.09 billion, followed by the National Food Authority with P2.25 billion. The increase in subsidies was attributed to the effects of El Niño on agricultural products.
April 07, 2024
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