Gov’t subsidy to GOCCs down in H1

The amount of subsidy the Duterte administration extended to government owned and controlled corporations was slashed by half in the first semester, but bulk of it went to National Irrigation Administration .

Meanwhile, government subsidy to state corporations reached P12.33 billion in June, up 47 percent from P8.34 billion in the same month last year. Likewise, the six-month budget gap was lower by six percent compared with the P716.1 billion recorded in the same period last year. Customs better collection performance compensated for the Bureau of Internal Revenue’s behind target collections.

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