Due to double-digit revenue growth and a 1.10 percent decrease in government spending, the national…
BCDA sends the national government P7.53 billion in 2022.
The national government (NG) received PHP7.53 billion from the Bases Conversion and Development Authority (BCDA), up 64 percent from PHP4.59 billion in 2021.
Aileen Zosa, the chief executive officer of BCDA, stated in a press conference on Monday that the organization’s ongoing cash inflows from its joint ventures, leases, and other revenue-generating activities were primarily responsible for the nearly PHP3 billion increase in remittance to the NG last year.
The majority of BCDA’s payment to the Bureau of the Treasury would go toward the upgrading of the Philippine Armed Forces (AFP).
The amount the AFP received from BCDA revenues in 2022 climbed from PHP2.64 billion to PHP7.21 billion.
The Bases Conversion and Development Act of 1992, also known as Republic Act 7227, grants the BCDA the ability to develop decommissioned military camps and raise money for the AFP modernization program.
“Our dedication to our mandate of improving the quality of life for individuals not only in our properties but for those in the surrounding communities is what has led to this great financial performance,” says the company. Doing more with less will be the guiding concept of all our efforts in BCDA as the national government deals with shrinking funds after a very challenging two years. We will be more careful than ever to generate income for the AFP’s modernization, added Zosa.***
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