The national government’s subsidies to government-owned and -controlled corporations in the first four months of the year saw a decline of 3.58 percent, data released by the Bureau of the Treasury (BTr) showed.
According to the latest cash operations report, subsidies in January to April 2023 totaled to P30.27 billion, down from the P31.39 billion recorded in the same period a year ago.
The lion’s share of the subsidies released to state-run firms, amounting to P14.06 billion, went to the National Irrigation Administration (NIA), which is responsible for irrigation development and management.
Aside from NIA, the only other billionaire recipients were the Power Sector Assets and Liabilities Management Corp. with P5 billion, National Food Authority (NFA) with P3.25 billion and the National Power Corp. with P1.12 billion.
In April alone, subsidies to state-firms amounted to P8.96 billion, 75.06 percent up from the P5.12 billion recorded in the same month a year ago.
NIA received the largest chunk with P3.88 billion.
Aside from NIA, the only other billionaire recipient for the month was NFA with P2.02 billion.
The BTr earlier reported that the national government posted a wider surplus in April amid the strong collection performance during that month.
The government recorded a P66.8 billion budget surplus in April 2023, far higher compared to the previous year’s surplus of P4.9 billion for the same month, as the acceleration in revenues outstripped the growth of expenditures.
The cumulative deficit, on the other hand, decreased by 34.57 percent to P204.1 billion versus the budget gap incurred during the same four-month period last year of P311.9 billion.
