The national government’s subsidies to government-owned and -controlled corporations (GOCCs) in the first semester fell below program by 50.5 percent, latest data showed.
According to the Department of Budget and Management’s (DBM) report posted on its website, subsidies to state-run and -controlled firms amounted to P88.28 billion in the first semester, below its program of P178.2 billion.
“This is mainly due to the timing of releases pending submission of special budget requests by the GOCCs such as the Philippine Health Insurance Corp. (PhilHealth), National Irrigation Administration (NIA), Bases Conversion and Development Authority, National Housing Authority and National Electrification Administration,” the DBM said.
“The delays in the request from the said GOCCs may be attributed to compliance to documentary requirements, and late submission of progress billings from contractors,” it added.
Data released by the Bureau of the Treasury (BTr) also showed that subsidy releases likewise fell from the previous year’s level of P128.69 billion by 31.4 percent.
“Subsidy was down by P40.4 billion from a year ago mostly due to the one-time P51 billion Small Business Wage Subsidy Program implemented through the Social Security System in April and May last year,” the DBM said.
BTr data showed that subsidies likewise dropped by 80.1 percent in June to P8.34 billion from P42.03 billion in the same month a year ago.
The DBM said this was mainly due to the timing of releases to the PhilHealth in June last year amounting to P26.2 billion.
This year, releases to PhilHealth which were mostly made in April and May totaled P45.5 billion, the budget agency said.
Top subsidy recipient in June is NIA with P2.65 billion, while PhilHealth raked in bulk of the subsidies for the first semester with P45.46 billion. – Angela Celis
