Home Editors' Picks Subsidies extended to GOCCs up 8.5% in 2022
Subsidies extended to GOCCs up 8.5% in 2022
SUBSIDIES extended to government-owned and -controlled corporations (GOCCs) reached P200.41 billion in 2022, with the Philippine Health Insurance Corp. (PhilHealth) being the top recipient.
Data from the Bureau of the Treasury (BTr) showed that budgetary support to GOCCs last year increased by 8.5% from P184.767 billion in 2021.
In December alone, subsidies surged by 419.9% to P32.07 billion from P6.169 billion in November and by 50.2% from P21.356 billion in the same month in 2021.
The government extends subsidies to GOCCs to help cover expenses that are not supported by their revenues.
In 2022, PhilHealth received P80.048 billion in subsidies, or nearly 40% of all subsidies last year. However, PhilHealth subsidies were 1.15% lower than the P80.979 billion it received in 2021.
The National Irrigation Administration (NIA) took in P40.662 billion in government subsidies, up by 6.1% from P38.311 billion in 2021.
Subsidies for the National Housing Authority (NHA) declined by 33.4% to P17.125 billion last year from P25.713 billion in 2021.
Also receiving significant subsidies were the Power Sector Assets and Liabilities Management Corp. (P8 billion), the National Food Authority (P7 billion), the National Power Corp. (P6.587 billion), and the Philippine Fisheries Development Authority (P5.603 billion).
The government also extended subsidies to the Bases Conversion and Development Authority (P4.581), the Philippine Crop Insurance Corp. (P4.366 billion), the National Electrification Administration (P3.613 billion), the Civil Aviation Authority of the Philippines (P2.439 billion), the Philippine Coconut Authority (P2.073 billion), and Small Business Corp. (P2 billion).
In December alone, PhilHealth received nearly half or 45% of the subsidies with P14.606 billion. This was followed by the NHA with P3.092 billion and the National Electrification Administration with P2.736 billion.
Other firms that received more than P1 billion in December were the NIA (P2.261 billion), Philippine Crop Insurance (P1.932 billion), Social Housing Finance Corp. (P1.783 billion), the Philippine Fisheries Development Authority (P1.665 billion), and the Philippine Coconut Authority (P1.075 billion).
The National Food Authority was the only major nonfinancial GOCC that did not receive subsidies in December.
Other GOCCs that received no subsidies in December were the Bases Conversion and Development Authority, the Cagayan Economic Zone Authority, Duty Free Phils. Corp., the National Tobacco Administration, the Power Sector Assets and Liabilities Management Corp., and the Sugar Regulatory Administration. — Luisa Maria Jacinta C. Jocson