THE amount of subsidies extended by the national government to state-run agencies and corporations in October plunged by three-fourths year-on-year to nearly P9.2 billion, according to the Bureau of the Treasury (BTr).
Latest Treasury data showed total national government subsidy in October reached P9.189 billion, about 77 percent lower than the P39.917 billion recorded subsidy in the same month of last year.
Treasury data indicated that the overall decline in national subsidy was caused by a double-digit drop rate in the funding received by both major non-financial government corporations and other state corporations.
Subsidy extended to major non-financial government corporations accounted for 89 percent of the total state subsidy provided in October, while the remaining 11 percent went to other government corporations.
Major non-financial government corporations’ subsidies declined by 55 percent to P8.18 billion from P18.093 billion in the same reference month last year, Treasury data showed.
The National Irrigation Administration (NIA) led the major non-financial government corporations in terms of subsidy received in October.
NIA got P4.105 billion in subsidy, 41 percent lower than the P6.949 billion it received in October of 2022, based on Treasury data.
NIA was followed by the National Food Authority (NFA) and National Housing Authority (NHA) in terms of subsidy at P2.01 billion and P1.15 billion, respectively.
Meanwhile, subsidies received by other government corporations plunged 95 percent year-on-year to P1.009 billion from P21.824 billion last year.
Among the other government corporations, the Philippine Children’s Medical Center received the highest subsidy in October at P179 million followed by the Philippine Heart Center at P178 million, according to the Treasury.
From January to October, the total national government subsidy declined by 10 percent on an annual basis to P146.316 billion from P162.171 billion, Treasury data showed.
The Philippine Health Insurance Corp. (PhilHealth) was the top recipient during the 10-month period, with a total subsidy of P50.614 billion. It was followed by the NIA (P35.918 billion) and NHA (P17.777 billion), based on Treasury data.
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