The subsidies disbursed to government-owned and -controlled corporations in the first half of the year posted a 49.38 percent decline 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 June 2022 totaled to P44.69 billion, down from the P88.28 billion released in the same period last year.
The lion’s share of the subsidies released to state-run firms, amounting to P18.34 billion, went to the National Irrigation Administration (NIA), which is responsible for irrigation development and management.
Also among the billionaire recipients are the National Housing Authority (NHA) with P8.94 billion, National Food Authority with P3.24 billion, Bases Conversion and Development Authority with P2.17 billion and the Philippine Fisheries Development Authority with P1.691 billion.
On the other hand, in June alone, subsidies amounted to P12.33 billion, higher by 47.82 percent versus the P8.34 billion posted in the same time in 2021.
NHA was the top recipient for the month with P5.75 billion.
Meanwhile, NIA was the only other billionaire recipient in June with P3.08 billion.
Earlier, the BTr reported that the national government’s budget deficit in the first half of 2022 fell below program, amid higher revenues and lower-than-expected expenditures during the period.
According to the BTr’s latest cash operations report, the national government’s deficit in the first semester amounted to P674.2 billion, falling below the P828.7 billion program by 18.64 percent.
It also lagged by 5.84 percent from last year’s P716.1 billion.
In June alone, the deficit rose by 43.81 percent to P215.5 billion from the P149.9 billion budget gap recorded in the previous year.
