Subsidies extended by the national government to state-owned firms increased in February, data from the Bureau of the Treasury showed.
Twenty-three government-owned and -controlled corporations (GOCC) secured P10.48 billion assistance during the month, up 278.72 percent from P2.76 billion in the same month a year ago.
The National Irrigation Administration (NIA), which is responsible for irrigation development and management in the country, accounted for the bulk of subsidies given in the month with P5.89 billion.
The National Food Authority came in second with P2.97 billion, and Small Business Corp. at third with P355 million.
Also receiving assistance in February were the Light Rail Transit Authority, Aurora Pacific Economic Zone and Freeport Authority, Cultural Center of the Philippines, Credit Information Corp., Center for International Trade Expositions and Missions, Intercontinental Broadcasting Corp., Lung Center of the Philippines, National Dairy Authority, National Kidney and Transplant Institute, Philippine Coconut Authority, Philippine Center for Economic Development, 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, Philippine Tobacco Administration, People’s Television Network Inc., Southern Philippines Development Authority, and Zamboanga City Special Economic Zone Authority.
The February subsidies were also the year-to-date figure as no national government assistance were provided for GOCCs in the month of January.
Compared with the P3.52 billion tally for January to February last year, government subsidies rose by 197.25 percent.
Subsidies fell under the national government’s disbursement program.
State spending in February declined by 12.2 percent to P244.4 billion from P278.5 billion a year ago, but it supported the year-to-date tally by 5.2 percent to P516 billion.
In 2019, the government gave away a record P201.52 billion in subsidies.
Twenty-three government-owned and -controlled corporations (GOCC) secured P10.48 billion assistance during the month, up 278.72 percent from P2.76 billion in the same month a year ago.
The National Irrigation Administration (NIA), which is responsible for irrigation development and management in the country, accounted for the bulk of subsidies given in the month with P5.89 billion.
The National Food Authority came in second with P2.97 billion, and Small Business Corp. at third with P355 million.
Also receiving assistance in February were the Light Rail Transit Authority, Aurora Pacific Economic Zone and Freeport Authority, Cultural Center of the Philippines, Credit Information Corp., Center for International Trade Expositions and Missions, Intercontinental Broadcasting Corp., Lung Center of the Philippines, National Dairy Authority, National Kidney and Transplant Institute, Philippine Coconut Authority, Philippine Center for Economic Development, 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, Philippine Tobacco Administration, People’s Television Network Inc., Southern Philippines Development Authority, and Zamboanga City Special Economic Zone Authority.
The February subsidies were also the year-to-date figure as no national government assistance were provided for GOCCs in the month of January.
Compared with the P3.52 billion tally for January to February last year, government subsidies rose by 197.25 percent.
Subsidies fell under the national government’s disbursement program.
State spending in February declined by 12.2 percent to P244.4 billion from P278.5 billion a year ago, but it supported the year-to-date tally by 5.2 percent to P516 billion.
In 2019, the government gave away a record P201.52 billion in subsidies.
