The government increased its budgetary support to state-run firms in February this year, with most of the subsidies meant to fund irrigation projects.

Data from the Bureau of the Treasury (BTr) showed over the weekend that subsidies to government-owned and controlled corporations (GOCCs) in February increased by 35.25 percent to P12.715 billion from P9.401 billion in the same period last year.

During the month, budgetary support for major non-financial government corporations reached P9.781 billion, up by 30.44 percent from last year's P7.498 billion.

Subsidies for other government corporations also soared by 60.43 percent to P2.822 billion from P1.759 billion a year ago.

The government provides subsidies to GOCCs to offset operational costs that are not covered by their own generated revenues.

For February, more than half of total subsidies went to the National Irrigation Administration (NIA) at P6.79 billion, a slight increase of 4.47 percent jump from the P6.789 billion it received in the same period last year.

The National Food Authority (NFA), the agency responsible for ensuring the food security of the Philippines and the stability of the supply and price of rice, secured the second-highest subsidy at P2.250 billion.

The Social Housing Finance Corporation (SHFC), the government agency responsible for financing social housing programs for the formal and informal sectors in the Philippines, came in third with P667 million.

Other top subsidy recipients during the month include the Philippine Heart Center at P303 million, the Sugar Regulatory Administration at P284 million, and the Philippine Children’s Medical Center at P228 million.

For the two-month period, subsidies increased by 20.94 percent to P12.715 billion from P10.513 billion a year ago.

The country’s budget deficit last February reached P164.7 billion in February as the government spending surpassed its income, the state-run treasury bureau recently reported.

Revenues rose 5.73 percent year-on-year to P224 billion last year, while expenditures rose 22.14 percent year-on-year to P388.7 billion.