State subsidy rises for Nov.
For November, the bulk of the total subsidies went to the National Irrigation Administration at P2.51 billion.
Photo courtesy of Bureau of Treasury / Facebook
Daily TribuneFor November, the bulk of the total subsidies went to the National Irrigation Administration at P2.51 billion.
Photo courtesy of Bureau of Treasury / Facebook
The government slightly increased its support to state-run firms in November to cover operational expenses that are not supported by their own revenues, the Bureau of the Treasury, or BTr, said over the weekend.
Data from the Treasury showed that subsidies to government-owned and controlled corporations in November increased by 9 percent to P6.73 billion from P6.17 billion a year earlier.
During the month, budgetary support for major non-financial government corporations reached P4.60 billion, up by 53 percent from P2.99 billion last year.
Subsidies for other government corporations declined 33 percent to P2.12 billion from P3.18 billion last year.
For November, the bulk of the total subsidies went to the National Irrigation Administration at P2.51 billion.
NFA eats up budget
The National Food Authority secured the second-highest subsidy at P1.66 billion, while the Philippine Postal Corporation came in third with P500 million.
During the month in review, GOCCs that did not get any subsidy are the National Home Mortgage Finance Corp., Civil Aviation Authority of the Philippines, and Center for International Trade Expositions and Missions.
Also included are the Philippine Crop Insurance Corp., Philippine Fisheries Development Authority, Social Housing Finance Corp. and the Sugar Regulatory Administration.
For 11 months, subsidies slightly went down four percent to P153.05 billion from P160.34 billion a year ago.
From January to November last year, budgetary support for major non-financial government corporations reached P71.16 billion, up 3 percent from P68.69 billion last year, while subsidies for other government corporations declined 10 percent to P81.39 billion from P91.33 billion.