THE national government’s total subsidies to state-owned financial institutions, corporations and agencies rose by a fifth in the first half to P63.701 billion from P52.745 billion driven by higher releases to other government corporations.
Latest Bureau of the Treasury (BTr) data showed that the national government subsidy as of end-June was 20.77 percent higher than what was recorded in the same period of last year.
Treasury data showed that more than half or about 53 percent of the subsidies extended by the national government went to other government corporations led by the Philippine Health Insurance Corp. (PhilHealth).
Total subsidies to other government corporations expanded by 72 percent during the six-month period to P34.108 billion from P19.774 billion recorded last year, based on BTr data.
PhilHealth accounted for 44 percent of the subsidy received by the other government corporations as it got P15.033 billion in budget.
PhilHealth did not receive a single peso in terms of subsidy during the first half of last year.
Next to PhilHealth was the Power Sector Assets and Liabilities Management (PSALM) Corp. with a total subsidy of P5 billion.
Treasury data showed that major non-financial government corporations received P29.244 billion in subsidies during the reference period. The amount was P3.532 billion lower than the P32.766 billion they got in the first half of last year.
The National Irrigation Administration (NIA) topped the list of major non-financial government corporations in terms of subsidies at P21.810 billion, 19 percent higher than the P18.346 billion it received last year.
NIA was followed by the National Food Authority (NFA) at P4.572 billion, which was 41 percent over the P3.243 billion it got in the first half of 2022, Treasury data showed.
Both the NIA and NFA are attached agencies of the Department of Agriculture (DA).
The other government corporations that received a substantial amount of subsidies during the first half were Bases Conversion and Development Authority (BCDA) and the Philippine Crop Insurance Corp. (PCIC).
The BCDA received P2.910 billion in subsidy while the PCIC got P1.934 billion, based on BTr data.