Subsidies to state firms hit P2.1B in August | Inquirer BusinessThe government extended P2.1 billion in subsidies to state-owned and -controlled corporations in August. The bulk of the amount went to entities engaged in power, crops, health, and development projects. Data from the Bureau of the Treasury show that the August subsidy was 25 times more than the P86 million a year ago. This put the cumulative subsidies granted to 30 state firms in the first eight months of the year to P17.4 billion, increasing by 86 percent from P9.35 billion in the same period last year.