The national government’s subsidies to government-owned and -controlled corporations (GOCCs) posted a double-digit growth as of end-October, with a significant amount intended for 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 P158.74 billion in the first 10 months of 2019, 25.6 percent higher than the P126.38 billion disbursed in the same period last year.
Bulk of the amount went to the Philippine Health Insurance Corp. (PhilHealth) with P61.56 billion.
The National Irrigation Authority (NIA) was the second largest recipient with P32.05 billion.
This was followed by the Land Bank of the Philippines with P30.49 billion, National Housing Authority with P8.28 billion, and National Food Authority (NFA) with P7 billion.
In October alone, state support to GOCCs totaled to P7.24 billion, 366.67 percent up from P1.55 billion in the same month in 2018.
NFA is the top recipient with P2.77 billion, followed by PhilHealth with P2.66 billion.
NIA received P483 million, while the Local Water Utilities Administration was in the fourth spot with P276 million. The National Power Corp. completed the top five for the month with P253 million.