DBM to GOCCs: Use pre-’24 subsidies to cover fund gaps

Quick Summary:

THE Department of Budget and Management (DBM) directed all state-run firms to utilize their unused subsidies from years prior to 2024 to cover additional funding requirements for their programs, activities and projects in the current year.

Pangandaman issued Corporate Budget Circular No.27 to all government-owned and -controlled corporations (GOCCs) to prescribe the guidelines on the use of prior years’ budgetary support.

State-run firms must also ensure that the total sources are equal to the additional funding requirement of the recipient programs, activities and projects.

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Article Details

Author / Journalist: Reine Juvierre S. Alberto

Category: BusinessStartups

Markets: Philippines

Topics: Budget State-run Firms Year Billion Goccs Must Prior National Subsidies Years

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-04 @ 23:29:17 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 429 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 28380906

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