SUBSIDIES to state corporations significantly declined 60% year-on-year in the first half, with the National Irrigation Administration (NIA) receiving the most funding, the Bureau of the Treasury (BTr) said.
According to BTr’s cash operations report, total subsidies by the national government to Government-Owned and Controlled Corporations (GOCCs) totaled P26.698 billion in the first six months.
The National Irrigation Administration (NIA) was the top recipient of subsidies at P4.614 billion in June and P16.008 billion in the first half.
Next was followed by National Food Authority which received P3.399 billion in the first six months followed by Philippine Health Insurance Corp. at P1.449 billion and Philippine Coconut Authority with P976 million.
The government grants subsidies to GOCCs to cover operational expenses that are not supported by their respective revenues.
In June, subsidies to GOCCs fell 52.26% to P7.040 billion but up from the P5.239 billion in May.
On the other hand, 16 of 33 GOCCs did not receive subsidies in June. These include the National Electrification Administration (NEA), Philippine National Railways (PNR), Development Academy of the Philippines (DAP) and National Dairy Authority.
The national government target for this year is P187.1 billion worth of budgetary support to GOCCs. — Beatrice M. Laforga