The Bureau of the Treasury reports that subsidies to government-owned and -controlled corporations (GOCCs) increased to P12.23 billion in November 2024.
SUBSIDIES to government-owned and -controlled corporations (GOCCs) in November 2024 totaled P12.23 billion, higher than the P11.97 billion in October, as well as November 2023's P6.73 billion, the Bureau of the Treasury reported.However, the GOCCs' year-to-date funding of P129.44 billion was lower than the P153.05 billion in January-November 2023.Government financial institutions (GFIs) received P132 million in November 2024, up from zero in 2023 and P15 million in October 2024.
From January to November 2024, GFIs received P5.58 billion, up from P486 million in the same period last year.Appropriations to major nonfinancial state firms increased to P11.09 billion, higher than the P4.61 billion in 2023 and P10.72 billion in October 2024. Total appropriations amounted to P88.15 billion, an increase from the P71.15 billion as of end-November 2023.On the other hand, disbursements to other state-owned firms dropped to P1.02 billion in November 2024 from P2.13 billion in 2023 and P1.24 billion in October 2024. There was also a decline in the January to November 2024 period to P35.72 billion from P81.39 billion in 2023.Topping the list of GOCCs was the National Irrigation Administration (NIA) with P6.84 billion in subsidies, up from P2.52 billion in 2023.The National Food Authority (NFA) followed with P3.0 billion, up from P1.67 billion. Third was the National Electrification Administration (NEA) with P900 million from P2.24 billion.Rounding it up were the National Power Corp. at P248 million, up from P47 billion, and the Philippine Children's Medical Center at P211 million from P135 million
SUBSIDIES Goccs GOVERNMENT SPENDING PHILIPPINES ECONOMY
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