GOVERNMENT-OWNED and controlled corporations (GOCCs) received P7.5 billion in budgetary support last month, data from the Bureau of the Treasury (BTr) showed, plunging by 38.9 percent from P12.2 billion a year earlier and also lower than the P8.9 billion recorded in October.
Year to date, GOCC subsidies were also markedly lower at P95.8 billion compared to the P129.4 billion recorded in January-November 2024.
Rizal Commercial Banking Corp. chief economist Michael Ricafort said the decline was “part of more disciplined government spending to further improve fiscal performance and debt management.”
Government financial institutions (GFIs) received nothing in October compared to P132 million in the same month last year. This brought the year-to-date tally to P6.5 billion, sharply lower than the year-earlier P11.1 billion.
Major nonfinancial state firms, meanwhile, were given P7.15 billion in November, down from P10.7 billion a year ago but up from September’s P6.8 billion. This took the January-November count to P58.9 billion from P88.1 billion a year earlier.
Disbursements to other state-owned firms also dropped, to P936 million in November from P1.8 billion in October and the yearago P1.01 billion. The year-to-date total increased to P36.4 billion from P35.7 billion.
The National Irrigation Administration accounted for the biggest share of November subsidies at P5.7 billion from P6.8 billion a year earlier.
The National Food Authority followed with P750 million from P3.0 billion. In third was the Philippine Heart Center at P184 million, up from P168 million in November 2024.
