SUBSIDIES provided to government-owned and -controlled corporations (GOCCs) rose 94.64% year on year in June, the Bureau of the Treasury (BTr) said.
Budgetary support to GOCCs rose to P26.055 billion in June from P13.386 billion a year earlier, the BTr said. Month on month, subsidies jumped 253.24%.
The government provides subsidies to GOCCs to help cover operational expenses not covered by their revenue.
The Philippine Health Insurance Corp. (PhilHealth) was the top recipient in June, obtaining P15.016 billion or 57.63% of all subsidies during the month.
This was followed by the National Irrigation Administration (NIA), which received P3.524 billion.
The Bases Conversion and Development Authority received P2.91 billion, while the Philippine Crop Insurance Corp. got P1.8 billion.
Other top recipients were the Philippine Fisheries Development Authority (P853 million), National Food Authority (P471 million), and Philippine Children’s Medical Center (P221 million).
GOCCS that received at least P100 million were the Philippine Heart Center (P178 million), Philippine Rice Research Institute (P149 million), Philippine Coconut Authority (P133 million), National Kidney and Transplant Institute (P125 million), and National Dairy Authority (P100 million).
GOCCs that were given at least P50 million were the Social Security System (P93 million), Philippine National Railways (P73 million), Lung Center of the Philippines (P70 million), and Development Academy of the Philippines (P70 million).
The National Home Mortgage Finance Corp., National Housing Authority, Cagayan Economic Zone Authority, Philippine Postal Corp., Power Sector Assets and Liabilities Management Corp., Small Business Corp., and Social Housing Finance Corp. received no subsidies during the month.
In the first six months, subsidies amounted to P63.701 billion, up 20.77% from a year earlier.
The NIA received the most subsidies during this period at P21.81 billion, accounting for 34.24% of all subsidies.
In 2022, GOCC subsidies increased 8.5% to P200.41 billion. — Aaron Michael C. Sy
