The government infused almost P72 billion to state-owned and controlled corporations in the first seven months of the year, with Philippine Health Insurance Corp. getting the bulk of the subsidy, Bureau of Treasury data show over the weekend.
Latest available data showed that subsidies extended by the government to GOCCs in the January-to-July period this year climbed 55 percent to P71.855 billion from P46.288 billion in the same period in 2015.
The bulk of the amount went to PhilHealth with P35.268 billion, followed by National Housing Authority with P10.632 billion and the National Irrigation Administration with P8.817 billion.
Other beneficiaries of government subsidies in the first seven months of the year were Social Housing Finance Corp. with P1.672 billion; National Food Authority with P4.25 billion; and Subic Bay Metropolitan Authority with P1.612 billion.
Government subsidies in july jumped nearly 15 times to P35.258 billion from the P2.318 billion recorded in the same month a year ago.
The biggest recipient of the government subsidies in July was PhilHealth with P33.797 billion, followed by Philippine Crop Insurance Corp. with P646 billion and NIA with P683 billion.
Subsidies given by the government to GOCCs covers operational expenses that are not supported by corporate revenues and which may be spent on specific programs and projects.
The government plans to increase support to the GOCCs this year. Budget documentd for the fiscal year 2016 showed that the proposed allotment for GOCCs would increase to P127.1 billion from the P78 billion in 2015 and the P80.3 billion in 2014.
About P96.1 billion would be in the form of subsidies, P31 billion in equity and P26.5 million in net lending.
Subsidies to GOCCs in 2015 declined 3 percent to P78.01 billion from P80.44 billion in 2014.