Government subsidies to GOCCs down 23.4% in January

The Marcos administration pared back its subsidies to state-run firms in January, with support for major nonfinancial government corporations slashed by about half from a year ago. Latest data from the Bureau of the Treasury showed that budgetary support to government-owned and -controlled corporations (GOCCs) had declined by 23.4 percent to P3.4 billion in the