Subsidies to government-owned and -controlled corporations in the first seven months of the year declined by 35.64 percent versus its year ago level, data released by the Bureau of the Treasury (BTr) showed.
According to data posted on the BTr website, subsidies from January to July totaled to P94.36 billion, down from the P146.62 billion released in the same period last year.
The lion’s share of the subsidies released to state-run firms, amounting to P45.46 billion, went to the Philippine Health Insurance Corp (PhilHealth).
The subsidy support to PhilHealth is often allocated for the payment of health insurance premiums of indigent beneficiaries.
The National Irrigation Administration (NIA), which is responsible for irrigation development and management, is the second biggest recipient for the period with P19.6 billion.
Other top recipients are the National Housing Authority (NHA) with P8.78 billion, National Food Authority with P7 billion and the Philippine Crop Insurance Corp. with P1.75 billion.
In July alone, subsidies to state-run firms amounted to P6.08 billion, 66.1 percent down from the P17.93 billion posted in the same time in 2020.
NIA is the top recipient for the month with P2.76 billion.
Other top recipients are NHA with P1.48 billion, National Power Corp. with P933 million, Philippine Heart Center with P147 million and Philippine Postal Corp. with P135 million. – Angela Celis
