THE total amount of subsidies extended by the national government to state-run institutions and firms fell by 18.9 percent in the first quarter to P21.308 billion from P26.274 billion last year, latest government data showed.
Bureau of the Treasury (BTr) data showed that government subsidies during the 3-month period declined by nearly P5 billion as subsidies across government corporations fell on a yearly basis.
Total subsidies to major non-financial government corporations (NFGCs) reduced slightly to P12.737 billion in the first quarter from P12.738 billion in the same period last year.
The National Irrigation Administration (NIA) accounted for almost 80 percent of the funding that went to NFGCs.
During the first three months, NIA, an attached agency of the Department of Agriculture, received P10.184 billion in subsidies, 32.29 percent higher than the P7.698 billion it got in the first quarter of last year.
Treasury data also showed that subsidies to the National Food Authority (NFA) grew by four percent to P1.235 billion from P1.1188 billion in the first quarter of last year.
Meanwhile, subsidies to other government corporations plunged by 37.74 percent to P8.427 billion from P13.536 billion last year due to fewer state-owned firms getting subsidies and at a reduced amount in the first quarter.
Treasury data showed that only 27 other government corporations received subsidies during the three-month period compared to 36 in the same period last year.
The Power Sector Assets and Liabilities Management Corp. received the bulk of the subsidies extended to other government corporations at P5 billion. However, the amount of subsidies it got was P2-billion lower than the P7 billion it received in the first quarter of last year, Treasury data showed.
In March alone, the state’s total subsidies to its various firms and corporations remained relatively flat at P10.795 billion compared to the P10.717 billion recorded a year ago.
Of the total, P6.668 billion went to other government corporations, while the remaining P4.127 billion funded major NFGCs, according to Treasury data.