Philippine government cuts state enterprise subsidies by nearly 20% in 2024, but sees October spike.

In the first ten months of 2024, the Philippine government reduced budgetary support to state-owned enterprises by nearly 20%, totaling P117.21 billion. The National Irrigation Administration received the highest subsidies, followed by the Philippine Health Insurance Corporation and Power Sector Assets and Liabilities Management Corporation. Despite the overall decrease, October saw a 30.24% increase in subsidies to P11.97 billion compared to the same month last year.

3 months ago
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