The national government’s subsidies for government-owned and controlled corporations (GOCCs) fell 23.4 percent to P7.37 billion in May 2024 from P9.74 billion a year ago, according to the Bureau of Treasury (BTr).
Data from the BTr showed that the National Irrigation Authority (NIA) was the biggest recipient of subsidy amounting to P7.27 billion, higher than P4.22 billion in the same period last year.
This was followed by Philippine Rubber Institute with a total subsidy of P629 million, Philippine Fisheries Development Authority, P359 million, Philippine Children’s Medical Center, P207 million and Philippine Heart Center, P168 million.
Other top recipients are National Power Corp, P109 million; Small Business Corp., P100 million; Philippine National Railways, P87 million; Development Academy of the Philippines, P82 million; and Light Rail Transit Authority (LRTA), P72 million.
The Treasury said that in the first five months of 2024, the total subsidies went up by 51.4 percent to P57.04 billion from P37.64 billion in the same period last year.
Major non-financial government corporations received the biggest subsidy amounting to P38.53 billion, followed by other government corporations with P15.83 billion.
The government financial institutions (GFIs) received P2.68 billion in subsidy.
