GOCC subsidies drop 25.9% to P9.4B in Feb -- Treasury data

Apr 24, 2023 12:16 am

SUBSIDIES given to government-owned and -controlled corporations (GOCCs) fell by 25.9 percent in February from a year earlier, data released by the Bureau of the Treasury (BTr) showed.

Based on the agency's latest cash operations report, the budgetary support of P9.401 billion was lower than the P12.688 billion recorded in February last year. Reckoned from January 2023's P1.112 billion, however, it was substantially higher.

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