Data from the Bureau of the Treasury showed that subsidies to government-owned and controlled corporations (GOCCs) from January to September went down by 23 percent to P105.24 billion from P137.13 billion in the same period last year.
During the period, subsidies for other government corporations dropped by 57 percent to P33.47 billion from P78.26 billion a year ago. This category accounted for 32 percent of the total.
On the other hand, budgetary support for major non-financial government corporations reached P66.35 billion, rising by 14 percent. This comprised 63 percent of the total subsidies.
The remaining five percent, or P5.43 billion, went to government financial institutions, primarily the Philippine Crop Insurance Corp.
This story is from the November 04, 2024 edition of The Philippine Star.
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This story is from the November 04, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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