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GOCC subsidies rise 27% in 2017 led by PhilHealth

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PhilHealth

SUBSIDIES granted to government-owned and -controlled corporations (GOCCs) in 2017 grew 27%, with the Philippine Health Insurance Corporation (PhilHealth) continuing to take the largest share.

The Bureau of the Treasury (BTr) said subsidies provided by the national government hit P131.09 billion in 2017, compared with P103.19 billion in 2016.

The government had budgeted P152.22 billion for subsidies, which are granted to state firms to cover operational expenses that are not supported by their respective revenues.

PhilHealth received P47.19 billion in additional funding last year, equivalent to 36% of the overall subsidies given.

This was followed by the National Irrigation Authority (NIA), which received P30.16 billion, or 23%, and the National Housing Authority (NHA), which took in P19.56 billion, or 14.92%.

Of the 49 GOCCs, the Aurora Pacific Economic Zone and Freeport Authority received no supplementary funding from the national government.

In December, GOCCs received P31.23 billion, up sharply from P5.07 billion in the same month a year earlier and the P5.96 billion total for November 2017.

PhilHealth led the December recipients with P13.07 billion or 41.85% of the total. It was one of 43 to receive such grants that month. It was followed by the NHA at P7.56 billion, or 24.21%.

This year, the national government expects to provide P188.93 billion worth of budgetary support to GOCCs, up 24.11% on the 2017 target, and up 44% on the actual subsidy levels for that year. — Elijah Joseph C. Tubayan