NG subsidies to GOCCs, GFIs inched up 2.09% in Jan-Oct

SUBSIDIES extended by the national government (NG) to government-owned and -controlled corporations (GOCCs) and government financial institutions (GFIs) inched up 2.09 percent in the January to October period this year, according to the Bureau of the Treasury (BTr).

Data from the BTr showed total government subsidies increased to P154.235 billion in January to October 2022 from P151.081 billion in the same period in 2021.

The bulk of the subsidies extended in the 10-month period accounted for subsidies to “other government corporations” at P88.17 billion followed by “major non-financial government corporations” at P65.751 billion.

GFIs, particularly the National Home Mortgage Finance Corp., received a total of P314 million during the period. The only subsidies it received were in June worth P205 million and P109 million in August.

In terms of agency, data showed the Philippine Health Insurance Corp. (PhilHealth) received the largest sum at P64.088 billion in the January-to-October period.

This was followed by the National Irrigation Administration (NIA) at P36.365 billion and the National Housing Authority (NHA) at P13.658 billion.

The subsidies extended by the NG already account for 83.48 percent or P30.532-billion short of the subsidies extended in the whole of 2021. The government extended a total of P184.767 billion in 2021.

Meanwhile, subsidies extended by the government grew 667.979 percent to P39.981 billion in October 2022 from P5.206 billion in October 2021.

The data also showed “other government corporations” cornered P21.838 billion of the total subsidies for October while “major non-financial government corporations” received P18.143 billion. GFIs did not receive any subsidy in October.

The data showed that for October, PhilHealth also received the largest sum at P19.164 billion, followed by NIA at P6.949 billion; NHA, P4.717 billion; and, the National Power Corp. at P4.026 billion.

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