BUDGETARY support to government-owned and controlled corporations (GOCCs) was markedly lower in October, data from the Bureau of the Treasury (BTr) showed.
Subsidies plunged by 25.5 percent to P8.9 billion from P11.9 billion in the same period last year and were also lower than the P9.2 billion recorded in September.
Year to date, GOCC subsidies dropped to P88.4 billion, lower than the P117.2 billion in January-October 2024.
Rizal Commercial Banking Corp. chief economist Michael Ricafort said the decline in subsidies was “part of more disciplined government spending to further improve fiscal performance and debt management.”
Government financial institutions (GFIs) received nothing in October, from P15 million in the same month last year.
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As of end-October, GFIs had received P509 million, sharply lower compared to P5.4 billion a year earlier.
Appropriations to major nonfinancial state firms totaled P7.15 billion in October, lower than the P10.7 billion posted a year earlier but up from September’s P6.8 billion.
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This took the January-October tally to P52.4 billion, down from the yearago P77.1 billion.
Disbursements to other state-owned firms, meanwhile, dropped to P1.8 billion in October from P2.4 billion a month earlier but were slightly higher than the P1.2 billion recorded in the same month last year.
The January to October count, increased to P35.5 billion from P34.7 billion.
The National Irrigation Administration took the biggest share of October subsidies at P6.3 billion from P5.8 billion a year earlier.
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The Philippine Fisheries Development Authority followed with P843 million from P133 million last year. In third was the National Food Authority at P790 million, down from P3.0 billion in October 2024.
