In April, the Philippine government increased budgetary support to GOCCs by 209% to ₱27.72bn, primarily for agriculture and energy sectors.
In April, the Philippine government increased its budgetary support to GOCCs by 209% to ₱27.72bn, with the majority going to agriculture and energy sectors. The National Irrigation Administration received the largest share of subsidies at ₱11.43bn. This increase aims to help GOCCs cover operational costs not supported by their own earnings, and in the first four months of 2021, subsidies reached ₱47.307bn, a 56.3% increase from the same period last year.
June 09, 2024
4 Articles