State firms' subsidies hit P9.74B in May – Treasury

SUBSIDIES to government-owned and -controlled corporations (GOCCs) rose in May from a year earlier but were substantially lower compared to the previous month, Bureau of the Treasury data showed.

Based on the agency's latest cash operations report, the budgetary support of P9.74 billion was 32 percent more than the year-ago P7.38 billion. It was, however, almost three times lower than April's P27.72 billion.