The national government disbursed subsidies amounting to P45.228 billion in the first quarter this year, an expansion by 129.9 percent, from subsidies in the same quarter in 2017 of only P19.666 billion, data from the Bureau of the Treasury (BTr) showed.
Based on BTr data, the bulk of subsidies was poured on the Philippine Health Insurance Corp. (PhilHealth) amounting to P15.205 billion. The national government allocated none of the subsidy funds to the agency in the same period last year.
The Land Bank of the Philippines, a government financial institution, was provided the second-highest subsidy worth P12.334 billion for the quarter, with the funds disbursed solely in March. Based on the data from the BTr, the last time LandBank was provided with subsidies was in October 2011 amounting to P7.932 billion.
These developments made good the government’s pledge last year to soften the blow of higher excise tax on items, such as imported oil, whose price at the pumps have been blamed for the rash of increases that has dampened
consumption.
Analysts have since pointed out that slower consumer activities come at a time when inflation, or the rate of change in prices, have proven well above target in recent months and likely to remain there for some months more.
The National Irrigation Administration (NIA) came in third highest in subsidies during the quarter, totaling P8.344 billion. But this actually represented a contraction by 24.7 percent, from P11.083 billion in the same period last year.
In March alone the national government disbursed a total P15.086 billion to benefit PhilHealth recipients.
Data show the government disbursing a total P35.240 billion in March alone, an increase by 319.1 percent from subsidies made in 2017 amounting to P8.407 billion.
Of the total, PhilHealth received bulk of the subsidies to government-owned and -controlled corporations amounting to P15.086 billion, from zero subsidies in the same month the previous year.
LandBank was provided the second highest amount with P12.334 billion for March. The NIA came in third with P3.446 billion for the month, expanding by 149.5 percent, from the P1.381 billion recorded in March 2017.
Other agencies provided with subsidies in March include the National Food Authority with P1.800 billion, the Subic Bay Metropolitan Authority with P1.454 billion and the National Electrification Administration with P653 million, among others.
Then presidential candidate Duterte vowed to provide free irrigation and improve or provide universal health care for Filipinos when he ran for the highest office in the land.