SUBSIDIES extended by the national government to state-owned firms contracted 21.68 percent between January and September this year, according to the Bureau of the Treasury (BTr).
The data showed total subsidies extended by the national government declined to P114.25 billion in the nine-month period this year from P145.88 billion in the same period last year.
However, BTr said subsidies extended by the national government more than doubled to P23.65 billion in September 2022 from P9.16 billion in September 2021.
BTr data showed Other Government Corporations (OGCs) received P66.33 billion in the January to September period this year while Major Non-Financial Government Corp. (MNFGC) amounted to P47.61 billion during the nine-month period.
Government Financial Institutions only received P314 million worth of subsidies in the January to September period. In the same period last year, GFIs received subsidies worth P824 million.
The National Home Mortgage Finance Corporation (NHMFC) was the only GFI included in the list and only received subsidies worth P205 million in June and P109 million in August. NHMFC also received P824 in June and P172 million in October.
For OGCs, the Philippine Health Insurance Corporation (PHIC) received the highest amount of subsidies in the January to September period worth P44.924 billion. In September alone, the PHIC received P11.231 billion.
A far second was the Bases Conversion and Development Authority (BCDA) with subsidies worth P4.581 billion in the January to September period and P2.411 billion in September.
Among the MNFGCs, the BTr data showed the National Irrigation Administration (NIA) received the highest amount at P29.416 billion in January to September. In September alone the NIA received P2.663 billion in September.
The second highest was the National Housing Authority (NHA) which received a total of P8.941 billion in the January to September period. However, it did not receive any subsidies in September and the last subsidy it received was in June, at P5.747 billion.
In September, second to NIA, the government owned corporation that received the highest subsidies was the National Power Corporation (Napocor) with P1.319 billion during the period.