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MANILA - Subsidies to government owned or controlled corporations in June fell by 45 percent year-on-year, according to the Bureau of Treasury.
Data from the bureau showed that the national government shelled out P820 million in monetary support to GOCCs, down from the P1.488 billion in the same month last year.
The top beneficiary of taxpayers' money was the National Irrigation Administration at P257 million.
Other top recipients in June were as follows:
- Philippine Coconut Authority, P180 million;
- Center for International Trade Expositions and Missions, P98 million;
- Philippine Children's Medical Center, P90 million;
- Philippine Heart Center, P32 million;
- Philippine Health Insurance Corp., P19 million; and
- Philippine National Railways, P19 million
The year-on-year drop in subsidies last June led the six-month tally to also fall 13.7 percent to P12.221 billion this year from P14.142 billion last year.
The National Food Authority was the top recipient of aid in the first half at P4 billion, even as it received no such support in June.
The NFA receives a subsidy so it can import rice or buy the staple from farmers at a premium, and then sell the same at a loss to consumers.
Other top recipients of aid in the first half were as follows:
- Philhealth with P2.087 billion;
- National Electrification Administration, P1.566 million;
- NHA, P1.199 billion;
- PCA, P836 million; and
- NIA, P773 million.
During the first half of the year, the national government incurred a budget deficit of P34.482 billion, or way below the P109.341 billion ceiling for the period as the Aquino administration remained behind its spending program.
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