Subsidies to government-owned and -controlled corporations as of end-November increased by 29.85 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 November totaled to P228.7 billion, up from the P176.12 billion released in the same period last year.
The lion’s share of the subsidies released to state-run firms, amounting to P51 billion, went to the Social Security System, which is one of those in charge of the small business wage subsidy (SBWS) program.
The SBWS program provided wage subsidies amounting to P5,000 to P8,000 for affected employees and owners of small businesses to help mitigate their loss of income and prevent closures due to the imposition of the enhanced community quarantine last March.
Also among the biggest recipients were the Philippine Health Insurance Corp. (PhilHealth) with P38.57 billion, National Food Authority with P37.65 billion, National Irrigation Administration (NIA) with P31.72 billion and the National Housing Authority with P18.08 billion.
In November alone, subsidies amounted to P22.78 billion, 92.83 percent up from the P11.82 billion posted in the same time in 2019.
Land Bank of the Philippines was the top recipient for the month with P10 billion.
Other top recipients include PhilHealth with P8.125 billion, NIA with P2.481 billion, Philippine Crop Insurance Corp. with P1.491 billion and the Philippine Heart Center with P118 million.
