State firms, GFIs received ₱67.206B in NG subsidies

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State firms, GFIs received ₱67.206B in NG subsidies - Business Mirror

Quick Summary:

STATE-run firms and financial institutions received subsidies amounting to P67.206 billion from the national government in the first half of the year, according to the Bureau of the Treasury (BTr).

In June 2024 alone, subsidies stood at P10.159 billion, plunging by 61 percent from the P26.055 billion recorded in June 2023.However, this was 4.30 percent higher than the P9.740 billion in subsidies extended in April 2024.

Only the National Home Mortgage Finance Corp.(NHMFC) received subsidies worth a total of P629 million among state-run financial corporations in 2023.