Inquirer
GOCC subsidies down 40% in November
Government subsidies to government-owned and controlled corporations (GOCCs) decreased by 38.9% to P7.47 billion in November compared to P12.23 billion in the same month last year.
This decline is attributed to more GOCCs receiving no funding, with 13 agencies left without budgetary support in November, up from nine a year earlier.
Major nonfinancial government corporations received the bulk of the November subsidies, amounting to P6.5 billion.
The National Irrigation Administration accounted for the largest share at P5.7 billion.
The National Food Authority (NFA) received P750 million, a 75% decrease from last year, and its authority is now confined to stocking rice for emergency and disaster relief.
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