GOCC subsidies fell 30% in February

Budgetary support to state-run firms plunged anew in February as the government scaled back infrastructure-related subsidies, data from the Bureau of the Treasury (BTr) showed. According to the BTr’s cash operations report, subsidies to government-owned and -controlled corporations (GOCCs) fell by nearly 30 percent year on year to P5.334 billion in the second month of