The national government’s subsidies to government-owned and -controlled corporations (GOCCs) saw a significant jump in September, as the lion’s share supported the health premiums of senior citizens and indigent patients.
According to data posted by the Bureau of the Treasury in its website, subsidies to state firms amounted to P54.7 billion in September 2019, 179.34 percent higher than the P19.58 billion disbursed in the same month last year.
Bulk of the amount went to the Philippine Health Insurance Corp. (PhilHealth) at P29.76 billion.
Land Bank of the Philippines (Landbank) was the second largest recipient with P12 billion, followed by the National Irrigation Authority (NIA) with P7.54 billion, Small Business Corp. (SBC) with P1.25 billion, and the Philippine Coconut Authority with P726 million.
“Support to GOCCs expanded by more than two-folds in September to end up at
P54.7 billion from P19.6 billion last year. The significant increase is attributed to the PhilHealth’s payment of health premiums of senior citizens (P27.1 billion) and indigent patients (P2.2 billion); release of P12 billion to the Landbank as conduit of the Department of Social Welfare and Development for the implementation of the Unconditional Cash
Transfer Program; settlement of obligations of the NIA (P7.5
billion) for its completed irrigation programs and projects; and release to the SBC to support its financing program for MSMEs called Pondo para sa Pagbabago at Pag-Asenso (P1.3 billion),” the Department of Budget and Management said in its website.
As of end-September, state support to GOCCs totaled to P151.5 billion, 21.36 percent up from the P124.83 billion recorded in the first nine months of 2018.
PhilHealth is the top recipient with P58.9 billion, followed by NIA with P31.57 billion.
Landbank received P30.49 billion, while the National Housing Authority is in the fourth spot with P8.28 billion. The National Food Authority completes the top five with P4.23 billion.