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.
SUBSIDIES to government-owned and -controlled corporations 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.This took the January- May tally to P57.05 billion, 51.6 percent higher than the P37.
Subsidies to major nonfinancial state firms, which comprised the bulk of May's subsidies, rose to P7.55 billion from P5.52 billion a year earlier. This is, however, almost two times lower than the P15.80 billion recorded in April.Year to date, major nonfinancial state firms received a total of P38.53 billion compared to P25.14 billion a year earlier.Subsidies to other state-owned firms likewise rose to P2.08 billion from P1.65 billion a year earlier but significantly lower than P10.
Firms' Subsidies Hit P9.74B In May Treasury
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