PhilHealth tops subsidy recipients
To pay for operational costs not covered by their profits, the government provides subsidies to GOCCs
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To pay for operational costs not covered by their profits, the government provides subsidies to GOCCs
Subsidies to the health sector continued to play a significant role in the government's slight increase in financial support for state-run businesses in July this year, Bureau of Treasury or BTr data released over the weekend showed.
Subsidies to government-owned and controlled corporations, or GOCCs, in July slightly increased by 9.63 percent to P33.24 billion from just P30.32 billion in the same period last year.
To pay for operational costs not covered by their profits, the government provides subsidies to GOCCs.
The Philippine Health Insurance Corp. received the most subsidies in July, receiving P22.65 billion, or 68.14 percent of all subsidies. PhilHealth received P22.46 billion in the same month last year.
The National Irrigation Administration secured the second-highest subsidy at P3.99 billion, while the National Housing Authority came in third with P3.33 billion.
Other top monthly recipients included the Philippine Fisheries Development Authority, with P1.29 billion; the National Power Corporation, with P273 million; and the Philippine National Railways, with P155 million.
During the month, GOCCs that did not get any subsidy included the Bases Conversion and Development Authority, Civil Aviation Authority of the Philippines, Cagayan Economic Zone Authority, Philippine Postal Corp., Power Sector Assets and Liabilities Management Corp. and Small Business Corporation.
For the seven-month period, subsidies went up by 29.25 percent to P96.94 percent from P75 billion a year ago.
Budgetary support for major non-financial government corporations for the January to July period reached P37.36 billion, down 5.03 percent from P39.34 billion in the same timeline last year.
Subsidies for other government corporations for the first seven months of the year, on the other hand, increased by 67.03 percent to P59.23 from P35.46 billion.
PhilHealth received the biggest subsidy during the first seven months of the year, amounting to P37.68 billion.
NIA followed with P25.80 billion, PSALM (P5.0 billion), National Food Authority (P4.71 billion), NHA (P4.52 billion), and Bases Conversion and Development Authority (P2.91 billion).
Other top recipients include PFDA (P2.46 billion), Philippine Crop Insurance Corporation (P1.93 billion), Philippine Heart Center (P1.24 billion), and Philippine Children's Medical Center (P1.09 billion).
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