Subsidies to government-owned and -controlled corporations in the first five months of the year declined by 7.75 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 May totaled to P79.94 billion, down from the P86.66 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 P14.2 billion.
Other top recipients are the National Food Authority with P7 billion, National Housing Authority (NHA) with P5.18 billion and the Philippine Crop Insurance Corp. (PCIC) with P1.75 billion.
In May alone, subsidies to state-run firms amounted to P44.69 billion, 49.96 percent up from the P29.8 billion posted in the same time in 2020.
PhilHealth is the top recipient for the month with P36.5 billion.
Other billionaire recipients are NIA with P3.31 billion, NHA with P1.95 billion and PCIC with P1.75 billion. – Angela Celis
