The subsidies disbursed to government-owned and -controlled corporations in the first four months of the year posted a 30.82 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 April 2022 totaled to P24.39 billion, down from the P35.26 billion released in the same period last year.
The lion’s share of the subsidies released to state-run firms, amounting to P9 billion, went to the National Irrigation Administration (NIA), which is responsible for irrigation development and management.
Also among the billionaire recipients were the National Food Authority (NFA) with P3.24 billion, National Housing Authority with P3.19 billion and the Bases Conversion and Development Authority with P2.17 billion.
In April alone, subsidies amounted to P5.12 billion, lower by 78.53 percent versus the P23.84 billion posted in the same time in 2021.
NFA was the top recipient for the month with P2.06 billion.
The only other billionaire recipient for the month was NIA with P1.3 billion.
The BTr earlier reported that the national government’s fiscal balance reverted to a P4.9 billion budget surplus in April 2022 due to faster year-over-year revenue collection growth of 19.19 percent against the marginal 1.98 percent increase in public expenditures.
The resulting cumulative budget balance as of end-April remained at a deficit of P311.9 billion, albeit lower by 14.76 percent than the budget deficit recorded for the same period last year.
