Subsidies to GOCCs down 12% in August

With a significant portion of subsidies allocated to the government's irrigation projects, the funds granted by the Marcos administration to government-owned and controlled corporations (GOCCs) decreased by over P1 billion in August.

- By MARCO LUIS BEECH

According to the latest data from the Bureau of the Treasury (BTr), subsidies fell by 12 percent to P8.02 billion in August, from P9.1 billion in the same period last year.

The administration’s subsidies for major non-financial government corporations dipped by 25 percent to P4.53 billion from last year’s P6.03 billion.

About three-quarters of the P4.53 billion were allocated to the National Irrigation Administration, which received the bulk of P3.42 billion. This was followed by the National Food Authority with P750 million and the National Electrification Administration with P200 million.