The government infused almost P79.257 billion in subsidies to state-owned and controlled corporations in the first eight months of the year, Bureau of Treasury data show over the weekend.
Latest available data showed that subsidies extended by the government to GOCCs in the January-to-August period of 2016 jumped 44 percent to P79.257 billion from P43.87 billion year-on-year.
The bulk of the amount went to Philippine Health Insurance Corp., P35.268 billion; National Housing Authority, P10.632 billion; National Irrigation Administration, P10.04 billion; and National Food Authority, P4.25 billion.
Subsidies in August alone dropped 16 percent to P7.402 billion from P8.802 million in the same month in 2015.
The biggest recipient of government subsidies in August was Power Sector Assets and Liabilities Management Corp. with P3.361 billion.