Philstar
GOCC dividends hit P117 billion in September
Government-owned or -controlled corporations (GOCCs) are expected to generate P157 billion in remittances by the end of 2025, according to Department of Finance Secretary Ralph Recto.
This projection surpasses the previous estimate of P117 billion and is intended to fund priority programs and potentially reduce the national deficit.
Recto highlighted the importance of state firms in fiscal sustainability during GOCC Day in Malacañang, where P116.84 billion was transferred to the Bureau of the Treasury.
The Land Bank of the Philippines was the top contributor, remitting P33.53 billion, followed by the Bangko Sentral ng Pilipinas with P18.91 billion.
Republic Act 7656 mandates GOCCs to remit at least 50 percent of their prior year's net earnings, with the Department of Finance encouraging an increase to 75 percent.
The government aims to trim the deficit relative to the gross domestic product to 5.5% this year and to 3.1% by 2030.
Topics in this story
Explore more stories about these topics.
🤖
This story was generated by AI to help you understand the key points. For more detailed coverage, please see the news articles from trusted media outlets below.
News Sources
See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
President Ferdinand "Bongbong" Marcos Jr. approved the Compensation and Position Classification System (CPCS) II, which includes salary increases and a tiered medical allowance for Government-Owned or Controlled Corporations (GOCCs) employees.
+2
Read more →
Various groups, including students and religious leaders, are organizing nationwide protests against corruption on September 21, coinciding with the 53rd anniversary of Martial Law.
+4
Read more →
The Department of Education (DepEd) is requesting a record P928.52 billion for its 2026 national budget, aiming to address classroom shortages and child hunger.
+3
Read more →
Cash remittances from overseas Filipinos reached US$3.2 billion in July, marking a seven-month high and a 3 percent increase compared to the same period last year.
Read more →
Senate President Vicente Sotto III questioned the inclusion of contractor couple Pacifico and Cezarah Discaya in the Witness Protection Program (WPP), citing their incomplete statement and the law's stipulation against admitting the "most guilty."
Read more →