More GOCCs eyed for P1 billion dividend club
The Philippine Department of Finance aims to increase the number of state-run firms contributing at least P1 billion in dividends to the national treasury. While dividend remittances are expected to hit record highs, government subsidies to these corporations have decreased significantly.
Why it matters
The financial performance of Government-Owned and Controlled Corporations (GOCCs) is a key indicator of fiscal health and government efficiency in the Philippines.
MANILA, Philippines - Finance Secretary Frederick Go hopes more state-run firms will break into the P1-billion dividend mark next year, with remittances expected to hit a record P147.15 billion by year-end.
The article provides a factual summary of government financial reports and statements from the Finance Secretary.
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