Out of the 26 corporations, the National Irrigation Administration received the most significant subsidy worth P3.2 billion, followed by the Bases Conversion and Development Authority with P1.94 billion
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The Bureau of the Treasury reported that in February, subsidies to state corporations increased by 42 percent to P7.6 billion from P4.4 billion.
This brought the total subsidies in the first two months to P11.959 billion.
Of the 26 corporations, the National Irrigation Administration (NIA) received the most significant subsidy worth P3.2 billion, followed by the Bases Conversion and Development Authority with P1.94 billion, and the Philippine Fisheries Development Authority with P975 million.
The smallest subsidies were given to the Zamboanga City Special Economic Zone Authority, which received P4 million, and the Philippine Tax Academy and the Philippine Center for Economic Development, which received P5 million each.
However, the National Food Authority obtained zero subsidy.
The national government subsidized financial institutions, major corporations and other corporations.
Under the government financial corporation, the Small Business Corp. solely received the P63 million subsidy, similar to the amount in January.
The non-financial major corporations received a total of P3.2 billion. They comprised the Light Rail Transit Administration, the Metropolitan Waterworks and Sewerage System, the NFA, and the NIA.
