Subsidies received by state-run companies from the government declined in January, latest Treasury bureau data showed.
A total of P795 million was provided to 18 government-owned and -controlled corporations (GOCCs) during the month, 13.8 percent lower than the P922 million recorded a year earlier.
The National Irrigation Administration (NIA), which is responsible for irrigation development and management, accounted for the bulk or P435 million.
The next-biggest allocation went to the Philippine Heart Center, which got P74 million, followed by Philippine Children’s Medical Center (P67 million) and the National Kidney and Transplant Institute (P50 million).
Other GOCCs that received assistance were the Light Rail Transit Authority, Aurora Pacific Economic Zone and Freeport Authority, Cultural Center of the Philippines, Credit Information Corp., Center for International Trade Expositions and Missions, Lung Center of the Philippines, National Dairy Authority, Philippine Coconut Authority, 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.
The subsidies fell under the national government’s disbursements program.
In January, state spending contracted by 7 percent to P212.2 billion, resulting largely from the delays in the implementation of new government projects and salary adjustments due to the deferred passage of the 2019 budget.
In 2018, the national government gave away a record P136.652 billion in subsidies.
State firms that received the biggest funding assistance were the Philippine Health Insurance Corp. (P52.950 billion), NIA, (P28.427 billion) and Land Bank of the Philippine (P25.622 billion).
