SUBSIDIES to government-owned and -controlled corporations year-on-year in July fell to P10.72 billion, a big drop of 67.75 percent from P33.24 billion in 2023, according to the latest cash operations report from the Bureau of the Treasury.The amount, however, was slightly higher than P10.16 billion in June.Total subsidies from January-July amounted to P77.93 billion, 19.61 percent lower than the P96.93 billion in the same period last year.Year to date, GOCCs received P53.
Appropriations to major nonfinancial state firms, which comprised the bulk of July's subsidies, dropped to P6.85 billion from P8.12 billion a year earlier and from P8.02 billion in June.Allocations to other state-owned firms, meanwhile, declined to P3.85 billion from P25.12 billion a year earlier, but higher than P2.04 billion in June. Its January to July tally plunged to P21.72 billion from last year's P59.22 billion.