Subsidies extended by the national government to state-owned firms fell in July, data from the Bureau of the Treasury showed, with the bulk provided to the National Housing Authority (NHA).
Twenty-four government-owned and -controlled corporations (GOCCs) received a total of P17.93 billion assistance during the month, down by 53.15 percent from P38.28 billion in July 2019.
NHA secured P9.89 billion last month. The agency is mandated to focus on socialized housing through the development and implementation of comprehensive and integrated housing development and resettlement; fast-tracking the determination and development of government lands suitable for housing; and ensuring the sustainability of socialized housing funds by improving its collection efficiency, among others.
The Philippine Health Insurance Corp. (PhilHealth). came in second in subsidies received with P4.12 billion and the National Irrigation Administration was at third with P1.91 billion.
Also receiving assistance in July were the National Electrification Administration, Philippine National Railways, Aurora Pacific Economic Zone and Freeport Authority, Cultural Center of the Philippines, Center for International Trade Expositions and Missions, Development Academy of the Philippines, Intercontinental Broadcasting Corp., International Centre for Settlement of Investment Disputes, Lung Center of the Philippines, National Dairy Authority, National Kidney and Transplant Institute, Philippine Coconut Authority, Philippine Center for Economic Development, Philippine Children’s Medical Center, Philippine Heart Center, Philippine Rice Research Institute, Philippine Institute for Development Studies, Philippine Institute of Traditional and Alternative Health Care, People’s Television Network Inc., Southern Philippines Development Authority, and Zamboanga City Special Economic Zone Authority.
Year-to-date, government subsidies soared by 188.46 percent to P187.46 billion from the year-ago figure.
In 2019, the government gave away a record P201.52 billion in subsidies.
Subsidies are part of the national government’s disbursement program.
State spending in July surged by 10.40 percent to P374.7 billion from P339.4 billion a year ago, boosting the year-to-date figure by 23.78 percent to P2.38 trillion.
Twenty-four government-owned and -controlled corporations (GOCCs) received a total of P17.93 billion assistance during the month, down by 53.15 percent from P38.28 billion in July 2019.
NHA secured P9.89 billion last month. The agency is mandated to focus on socialized housing through the development and implementation of comprehensive and integrated housing development and resettlement; fast-tracking the determination and development of government lands suitable for housing; and ensuring the sustainability of socialized housing funds by improving its collection efficiency, among others.
The Philippine Health Insurance Corp. (PhilHealth). came in second in subsidies received with P4.12 billion and the National Irrigation Administration was at third with P1.91 billion.
Also receiving assistance in July were the National Electrification Administration, Philippine National Railways, Aurora Pacific Economic Zone and Freeport Authority, Cultural Center of the Philippines, Center for International Trade Expositions and Missions, Development Academy of the Philippines, Intercontinental Broadcasting Corp., International Centre for Settlement of Investment Disputes, Lung Center of the Philippines, National Dairy Authority, National Kidney and Transplant Institute, Philippine Coconut Authority, Philippine Center for Economic Development, Philippine Children’s Medical Center, Philippine Heart Center, Philippine Rice Research Institute, Philippine Institute for Development Studies, Philippine Institute of Traditional and Alternative Health Care, People’s Television Network Inc., Southern Philippines Development Authority, and Zamboanga City Special Economic Zone Authority.
Year-to-date, government subsidies soared by 188.46 percent to P187.46 billion from the year-ago figure.
In 2019, the government gave away a record P201.52 billion in subsidies.
Subsidies are part of the national government’s disbursement program.
State spending in July surged by 10.40 percent to P374.7 billion from P339.4 billion a year ago, boosting the year-to-date figure by 23.78 percent to P2.38 trillion.
