Subsidies down 50% in November

The government disbursed a total of P3.168 billion in subsidies to state firms in November, 48.82% less than the P6.19 billion recorded in the same month in 2012. From January to November 2013, subsidies rose by 46.51% to P39.074 billion from the P26.669 billion given to government-owned and -controlled corporations (GOCCs) in the same 11-month period the year previous. The National Electrification Administration received the largest share of the subsidies given in the month, getting a total of P1.6 billion in November, followed by Philippine Crop Insurance Corp., which received P390 million. The National Irrigation Administration was also given P289 million while the Social Security System received P279 million. Rounding out the top five recipients of subsidies last November was the Philippine Rice Research Institute, which received P222 million. Other state firms that got sizable subsidies were the Philippine National Railways (P120 million), the Philippine Coconut Authority (P53 million), and the National Dairy Authority (P44 million). Several health institutions likewise received assistance during the month: the Philippine Children’s Medical Center (P37 million), the National Kidney and Transplant Institute (P25 million), the Lung Center of the Philippines (P22 million), and the Philippine Heart Center (P16 million). The Philippine Institute of Traditional and Alternative Health Care was also given P5 million, and the Philippine Health Insurance Corp., P1 million.