THE national government has released subsidies amounting to P19.583 billion for September, a figure that is 698 percent higher than the reported P2.454 billion in subsidies made for the same month in 2017, Bureau of the Treasury (BTr) data showed.
The Philippine Health Insurance Corp. (PhilHealth) took the bulk of the subsidy with
P5.296 billion.
Total subsidy from the government for the nine-month period amounted to P124.834 billion, expanding by 49.27 percent compared to last year’s P83.625 billion.
Apart from PhilHealth, other government-owned and -controlled corporations (GOCCs) that received subsidies include:
- The Land Bank of the Philippines with P4.945 billion; it received no subsidy in September 2017;
- The National Irrigation Administration (NIA) with P4.832 billion coming from a P643-million
subsidy in the same month for 2017; and - The Philippine Crop Insurance Corp., which received its first subsidy from the government in September this year amounting to P2.275 billion. The PCIC received a P350-million subsidy in September 2017, which means this year’s subsidy is 550 percent higher.
Subsidies were also given to the:
- National Dairy Authority with P382 million;
- Small Business Corp. with P300 million;
- National Kidney Transplant Institute with P271 million;
- Light Rail Transit Administration with P265 million;
- Social Security System with P185 million;
- Philippine Rice Research Institute with P182 million; and
- Sugar Regulatory Administration with P113 million.
A government subsidy to GOCCs aims to help agencies reduce their costs and support the growth of different sectors, among others.
In August the NG gave out total subsidies of P5.037 billion with the NIA receiving the bulk of the subsidy.
The second-biggest recipient for the month was PhilHealth with P2 billion, with no subsidy received during the same month last year.