SUBSIDIES to government-owned and -controlled corporations (GOCCs) markedly fell to P9.1 billion in August, substantially lower than the P18.93 billion recorded a year earlier, data from the Bureau of the Treasury showed.
The amount was also lower than the P10.72 billion posted in July.
Total subsidies from January-August amounted to P87.03 billion, again substantially down from the P115.86 billion seen in the same period last year.
Funding provided to government financial institutions (GFIs) totaled P1.98 billion in August alone, surging from P137 million a year ago and July’s P15 million.
As of end-August, GFIs received P4.79 billion, nearly ten times the P486 million recorded in the same period last year.
Appropriations to major nonfinancial state firms, which comprised the bulk of August’s subsidies, rose to P6.03 billion from P4.38 billion a year earlier but were slightly lower than July’s P6.85 billion.
Allocations to other state-owned firms, meanwhile, declined to P1.08 billion from P14.42 billion a year earlier and P3.85 billion in July. The January to August tally plunged to P22.81 billion from the year-earlier P73.64 billion.
The National Irrigation Administration took the lion’s share of August subsidies at P5.6 billion, substantially higher than P3.04 billion a year earlier.
Philippine Crop Insurance Corp. followed with P1.9 billion, up from zero last year, and in third was the Local Water Utilities Administration with P287 million, also up from zero last year.
Rounding up the top five for August were the Philippine Heart Center with P177 million, down from P178 million previously, and the Philippine Children’s Medical Center with P154 million, also lower compared to the P220 million received a year ago.
