National Education Expenditure Accounts (NEXA)
Financial corporations posted
fastest growth in education funding
Among the six institutional sectors, general government spent the biggest amount on education. From PhP37.8 billion in 1991, government expenditures reached PhP115.0 in 1998. Households, on the other hand, allocated a total of PhP35.6 billion in 1991, in 1998. The four other sectors (financial and non-financial corporations, non-profit institutions serving households, and the rest of the world) together contributed PhP6.0 billion and PhP14.8 billion in 1991 and 1998, respectively.
The fastest growing sector as a provider of education funds were the financial corporations, which posted an average growth of 28.8 percent.
The participation of the private pre-need and insurance industry in education financing has been increasing, but its share in the total education expenditures has remained low.
Education Expenditures by Source of Funds
(in million pesos)
|Year||All Sources||General Govern-ment||House-holds||Financial Corpora-tions||Non-financial Corpora-tions||Non-profit Institu-tions Serving House-holds||Rest of the World|
|average annual growth rate||17.1||17.3||17.7||28.8||10.2||127.6||16.2|
Source: National Statistical Coordination Board.