The earnings of the Subic Bay Metropolitan Authority in 2020 decreased by as much as 22% because of the economic slowdown brought about by the global COVID-19 pandemic.
She added the economic downturn “critically diminished the income-generating capacity of registered businesses and sent ripples of disruption across the freeport that affected even the SBMA income.” The SBMA Finance Group also reported that the agency’s operating income in 2020 hit only P1.75 billion, which was 20.93% lower than the P2.21 billion in 2019 – a difference of P462.56 million.
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