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Philhealth top '18 NG subsidy recipient.

SUBSIDIES made by the national government for 2018 amounted to P136.652 billion, with the Philippine Health Insurance Corp. (PhilHealth) taking the biggest share at P52.950 billion, data from the Bureau of the Treasury (BTr) showed.

The subsidies for 2018 represented an increase of 4.24 percent over the P131.088 billion made in 2017. Biggest subsidy recipient PhilHealth's share of P52.950 billion was 12.20 percent higher than the P47.190 billion recorded in 2017.

The National Irrigation Administration (NIA) received the second highest amount of subsidy with P28.427 billion, contracting by 5.75 percent from the P30.163 billion it received for 2017. The third highest recipient for the year was the Land Bank of the Philippines (LandBank) with P25.622 billion. The government did not provide a subsidy to LandBank in 2017.

Total subsidies made to government-owned and -controlled corporations (GOCCs) for the year amounted to P70.392 billion; major nonfinancial government corporations received P39.240 billion; and government financial institutions, P27.020 billion.

For December alone, total subsidies made by the government amounted to P2.181 billion, or a drop of 93.01 percent from P31.227 billion made in December 2017.

For that month, the highest recipient was LandBank with P486 billion, and the Development Bank of the Philippines (DBP) with P484 billion. NIA came in third with a subsidy of P464 billion.

A subsidy given by the government to GOCCs aims to help them reduce their costs and support the growth of different sectors, among others.

It was reported earlier that the Duterte administration aims to complete its 10-point socioeconomic agenda, which aims to alleviate poverty in the country and improve the social welfare of the Filipinos.

The agenda includes investing in human capital development, including health and education systems, and improving social protection programs, including the government's Conditional Cash Transfer program, to protect the poor against instability and economic shocks.

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Publication:Business Mirror (Makati City, Philippines)
Date:Mar 4, 2019
Words:366
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