November GOCC subsidies up 82%; 11-month total down

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BUDGETARY support to government-owned and -controlled corporations (GOCCs) surged by over 80 percent in November 2024 but dropped by 15 percent over the 11-month period year-on-year, data from the Bureau of the Treasury (BTr) showed.

PhilHealth said its reserve funds are worth P281 billion while its surplus funds amounted to P150 billion as of October 2024.

Firms that generate more income and operate efficiently would require less financial assistance from the national government while those with lower profitability would need more subsidies, especially as they are fulfilling mandates that serve the general public, he added.

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Article Details

Author / Journalist: Reine Juvierre S. Alberto

Category: BusinessStartups

Markets: Philippines

Topics: 2024 November Government 2025 Subsidies Corporations Budgetary National Support Percent Billion

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-05 @ 16:24:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 611 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 28 words per sentence (average)

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Copyright Owner: © Business Mirror

News ID: 24906110

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