Subsidies for state-run, owned firms surged 71% in March

MANILA, Philippines — Subsidies to state-run firms surged to their highest level in nearly two years in March as the Marcos administration ramped up spending for various projects, the latest data from the Bureau of the Treasury (BTr) showed. The BTr’s latest cash operations report showed that budgetary support to government-owned and controlled corporations (GOCCs) climbed