P230.4B subsidies released to state firms

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    Subsidies to government-owned and -controlled corporations in 2020 rose by 14.4 percent, with the biggest chunk poured into the Philippine Health Insurance Corp. (PhilHealth), data released by the Bureau of the Treasury (BTr) showed.

    According to data posted on the BTr website, subsidies from January to December 2020 totaled to P230.42 billion, up from the P201.52 billion released in the same period last year.

    The lion’s share of the subsidies released to state-run firms, amounting to P62.4 billion, went to PhilHealth.

    The subsidy support to PhilHealth is allocated for the payment of health insurance premiums of indigent beneficiaries.

    Also among the biggest recipients are the Social Security System with P51 billion, National Irrigation Administration (NIA) with P33.68 billion, Land Bank of the Philippines (LandBank) with P23.3 billion and the National Housing Authority with P18.14 billion.

    In December alone, subsidies to state-run and -controlled firms totaled to P42.56 billion, 67.55 percent up from the P25.4 billion posted in the same time in 2019.

    PhilHealth was also the top recipient for the said month, with P23.82 billion.

    Other top recipients include LandBank with P13.3 billion and NIA with P1.96 billion. – Angela Celis