MANILA, Philippines—The government’s revenue collection was expected to peak in the fourth quarter of 2021 with the privatization of idle assets and improving economic prospects as the mass vaccination program goes full steam ahead.
The Cabinet-level Development Budget Coordination Committee (DBCC) expected privatization to raise at least P491 million from October to December for a P500-million programmed sale revenue for 2021. As of end-April, proceeds from privatization fell by 97 percent year-on-year to P8.2 million.
Privatization revenues mostly came from remittances of sales, lease rental, interest income, and other income, like dividends, from shares in corporations.
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