SUBSIDIES granted to state corporations rose in 2018, with the bulk going to the Philippine Health Insurance Corp. (PhilHealth), the Bureau of the Treasury said.
Overall subsidies remitted by the national government to government-owned and -controlled corporations (GOCCs) hit P136.65 billion last year, up 4.24%.
The amounts remitted fell under the government’s P188.93-billion budget for subsidies, which are granted to state firms to cover operational expenses that are not supported by their respective revenues.
PhilHealth continued to receive the most subsidies, receiving P52.95 billion or 38.8% of the total.
This was followed by the National Irrigation Authority (NIA), which received P28.43 billion or 20.8%, and the Land Bank of the Philippines (LANDBANK), which took in P25.62 billion or 18.8%.
Of the 47 GOCCs, the Cagayan Economic Zone Authority received the lowest subsidy last year of P6 million.
In December, GOCCs received P2.18 billion in subsidies, lower than the P8.09 billion the previous month as well as the P31.23 billion a year earlier.
LANDBANK led the December recipients with P486 million, followed by the Development Bank of the Philippines at P484 million and NIA at P464 million.
This year, the national government expects to provide P187.1 billion worth of budgetary support to GOCCs, up 20.5% from its cash-based equivalent in 2018. — Karl Angelo N. Vidal