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State-run firms receive lower subsidies in May
July 14, 2025
|The Philippine Star
The government reduced its budgetary support to state-run firms by nearly 20 percent to P8 billion in May, with the bulk of the subsidies largely funding irrigation projects.
Data from the Bureau of the Treasury showed that subsidies to government-owned and controlled corporations (GOCCs) in May went down by 19 percent to P7.92 billion from P9.74 billion during the same period last year.
During the month, budgetary support for major non-financial government corporations slipped by a quarter to P5.63 billion.
On the other hand, subsidies for other government corporations rose by 10 percent to P2.29 billion.
The government grants subsidies to GOCCs as a way to cover operational expenses that are not supported by their own revenues.
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