Subsidies to state-owned corporations surge 355.7% in April

SUBSIDIES provided to government-owned and -controlled corporations (GOCCs) surged to P66.28 billion in April, up 355.7% from a year earlier, the Bureau of the Treasury reported. Month on month, GOCC subsidies rose 265.2%. State-owned firms receive monthly subsidies from the National Government to support their daily operations if their revenue is insufficient. In April, the […]