PH gov’t forked out P200B in GOCC subsidies in 2022
MANILA, Philippines – The national government gave out a total of P200.1 billion in subsidies to 61 state-owned and -controlled corporations last year, an increase of 8.5 percent amid higher-than-planned spending for the period.
Data from the Bureau of the Treasury (BTr) showed that expenditures in 2022 totaled P5.16 trillion or 10.4 percent higher than the previous year’s level.
Last year’s spending was also 4.1 percent higher than the 2022 expenditure program of P4.95 trillion.
Most of the subsidies given out in 2022 went to government institutions engaged in healthcare, food production and sourcing as well as energy and housing.
Philippine Health Insurance Corp. (PhilHealth) received the largest amount at P80.05 billion. Others among the top five recipients of subsidies were the National Irrigation Administration (NIA) with P40.66 billion; National Housing Authority or NHA (P17.12 billion); Power Sector Assets and Liabilities Management Corp. (P8 billion), and National Food Authority or NFA (P7 billion).
In December alone, the government spent about P32.07 billion on subsidies, much higher than the P21.36 billion given out in the same month of 2021. PhilHealth also received the month’s largest amount at P14.61 billion while the NHA got P3.09 billion; National Electrification Administration, P2.74 billion; NIA, P2.26 billion, and Philippine Crop Insurance Corp., P1.93 billion.
The BTr said that in 2022, expenditures had increased partly due to personnel services expenses owing to the implementation of the third tranche of Salary Standardization Law V and release of other personnel benefits. Also, expenses were greater than planned partly due to the payment of compensation and other benefits for COVID-19 healthcare workers at health facilities.
Gov’t subsidy to PhilHealth hit record-high in 2021
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