Gov’t subsidies to GOCCs up 48.7% as of Nov 2016

MANILA, Philippines – National government subsidies to government-owned or -controlled corporations (GOCCs) hit almost P100 billion as of end-November 2016, a 48.7%  increase from the same period in 2015.

According to Bureau of the Treasury (BTr) data released on Monday, January 2, government subsidies to GOCCs hit P98.12 billion as of the end-November, from P66 billion in November 2015.

Philippine Health Insurance Corporation (Philhealth) got the lion’s share, receiving P42.96 billion from January to November, followed by the  National Irrigation Administration (NIA) with P15.06 billion, and the National Housing Authority (NHA) with P10.63 billion.

The public health care provider, the main beneficiary of the sin tax law announced this year that it is setting up a new program for expanded health coverage for overseas Filipino workers (OFWs).

Other GOCCs that received notable contributions were the National Food Authority (P4.25 billion) and the National Electrification Administration (P3.15 billion).

In November alone, government subsidies to GOCCs hit P14.23 billion, nearly four times more than the P3.71 billion in the same month in 2015. – Rappler.com