Subsidies from the national government to state-owned and -controlled businesses decreased in July, with the majority of the funds going toward various irrigation projects in the agriculture sector.
A report released by the Bureau of the Treasury (BTr) showed that the financial support provided to government-owned and -controlled corporations (GOCCs) decreased by 67 percent to P10.72 billion in July from P33.24 billion in the same month of 2023.
Month-on-month, GOCC subsidies increased by 5.51 percent from P10.16 billion in June.
Budgetary support for significant non-financial government corporations in July stood at P6.85 billion, a 16 percent decrease from P8.12 billion in the previous year.
Subsidies for other government-owned businesses fell by 85% to P3.85 billion from P25.12 billion a year earlier.
Year-to-date, the total amount of GOCC funding reached P 77.93 billion as of July.
On the other hand, subsidies went down by 20 percent during the first seven months of the year, from P96.93 billion a year earlier to P77.93 billion.
Budgetary support for major non-financial government corporations rose by 43 percent from January to July to P53.4 billion. On the other hand, support for other government corporations fell by 63 percent to P21.72 billion.
The government provides subsidies to help GOCCs with operating costs not covered by their own income.
Subsidies per GOCC
BTr said the National Irrigation Authority (NIA) got the most funds in July at P6.76 billion, which accounted for 63.04 percent of the budgetary support.
The Bases Conversion and Development Authority came in second with P2.23 billion, and the Philippine Fisheries Development Authority came in third with P357 million.
The Philippine Heart Center (P168 million), the Philippine Children’s Medical Center (P151 million), the National Kidney and Transplant Institute (P133 million), and the Philippine Coconut Authority (P112 million) are some of the GOCCs that got more than P100 million in financial support.
The Philippine Light Rail Transit Authority got P72 million, the Cultural Center of the Philippines got P70 million, the Lung Center of the Philippines got P64 million, and the Philippine Rice Research Institute got P60 million. All of these groups got more than P50 million in subsidies.
There were no subsidies given to PhilHealth, the National Housing Authority, the National Food Authority, the National Electrification Administration, the National Housing Utilities Administration, the National Power Corp., the Philippine Postal Corp., the Sugar Regulatory Administration, or the Tourism Infrastructure and Enterprise Zone Authority during the month. (TCSP)
