The Marcos administration lowered its financial support for government-owned and -controlled corporations (GOCCs) in July, data from the Bureau of the Treasury showed.

The Treasury report revealed that the national government allocated P10.92 billion to support state-owned companies in July, a 69 percent decrease from P33.24 billion in the same month last year.

However, state subsidies rose by 5.5 percent month-on-month from P10.16 billion in June.

A significant portion of this funding, P6.76 billion, was directed to the National Irrigation Administration (NIA). The Bases Conversion and Development Authority (BCDA) was the second-largest recipient, receiving P2.23 billion.

Together, these two GOCCs accounted for 82.32 percent of the national government's total subsidy disbursements for the month.

The July subsidy expenses brought the national government's total for the first seven months to P77.92 billion, reflecting a 19 percent decline from P96.93 billion in the same period last year.

At end-July, the top recipient of government support was the National Irrigation Administration (NIA), which received P43.28 billion for developing the country's irrigation infrastructure.

Following NIA were the Power Sector Assets and Liabilities Management with P8 billion, the National Housing Authority with P3.75 billion, the National Food Authority with P2.25 billion, and the National Electrification Administration with P2.09 billion.

In 2023, budgetary support for GOCCs fell by 18% to P164 billion, from P200.41 billion in the previous year.

The government grants these subsidies to assist with operational expenses not met by their own revenues.