Subsidies received by state-run companies from the national government dropped in February, latest Treasury bureau data showed.
A total of P2.769 billion was provided to 19 government-owned and -controlled corporations (GOCCs) during the month, 69.6 percent lower than the P9.126 billion recorded a year earlier.
The National Irrigation Administration (NIA), which is responsible for irrigation development and management, accounted for the bulk or P1.746 billion.
The next-biggest allocation went to the Small Business Corp. (SBC), which got P208 million, followed by the Philippine Fisheries Development Authority (P205 million) and the Philippine Coconut Authority (PCA) (P193 million).
Other GOCCs that received assistance were the Light Rail Transit Authority, Aurora Pacific Economic Zone and Freeport Authority, Cultural Center of the Philippines, Center for International Trade Expositions and Missions, Lung Center of the Philippines, National Kidney and Transplant Institute, Philippine Children’s Medical Center, Philippine Heart Center, Philippine Rice Research Institute, Philippine Institute for Development Studies, Philippine Institute of Traditional and Alternative Health Care, People’s Television Network Inc., Southern Philippines Development Authority, Tourism Infrastructure and Enterprise Zone Authority, and the Zamboanga City Special Economic Zone Authority.
Year-to-date, government subsidies were down 64.5 percent to P3.564 billion from a year earlier.
State firms with the biggest funding assistance for the two-month period were the NIA, P2.181 billion; SBC, P208 million, and the PCA, P207 million.
The subsidies fell under the national government’s disbursements program.
In February, state spending rose by 21 percent to P278.5 billion, bringing the year-to-date tally to P490.7 billion, 7 percent higher than a year ago but P43.7 billion less than estimated programmed funds of P534.4 billion.
In 2018, the national government gave away a record P136.652 billion in subsidies.
