Home Business World PhilHealth tops GOCC subsidy listing in 2021

PhilHealth tops GOCC subsidy listing in 2021

PhilHealth tops GOCC subsidy listing in 2021

Sharing is caring!

SUBSIDIES prolonged to government-owned and -controlled companies (GOCCs) declined 19% to P184.8 billion in 2021, with the majority of the whole going to the Philippine Well being Insurance coverage Corp. (PhilHealth).

PhilHealth in 2021 acquired P80.9 billion, up 29.8%.

The Nationwide Irrigation Administration acquired P38.3 billion in subsidies, up 13.8%.

Final 12 months’s complete declined as subsidies prolonged to the Land Financial institution of the Philippines (LANDBANK) fell to P476 million from P23.3 billion a 12 months earlier.

Subsidies to different authorities companies, excluding monetary establishments and main non-financial authorities companies, slipped by 18.9% to P106.6 billion.

The federal government subsidizes state-run corporations to cowl operational bills not supported by their income.

In December, subsidies given to GOCCs fell by almost half 12 months on 12 months to P21.4 billion, down 48.1%.

The Nationwide Housing Authority acquired essentially the most subsidies in December with P8.1 billion.

The Nationwide Irrigation Administration acquired P4.1 billion, PhilHealth P4 billion and Philippine Nationwide Railways P1.2 billion.

Different prime recipients in December included the Nationwide Electrification Administration with P756 million, the Philippine Coconut Authority P705 million and LANDBANK P476 million.

GOCCs that didn’t obtain funds help in December had been Small Enterprise Corp., Philippine Postal Corp., the Philippine Fisheries Improvement Authority, the Philippine Crop Insurance coverage Corp., the Cagayan Financial Zone Authority, the Bases Conversion Improvement Authority, the Native Water Utilities Administration, the Nationwide Meals Authority, and the Nationwide Dwelling Mortgage Finance Corp.

Subsidies in 2020 had elevated 13.6% to P229 billion. — Jenina P. Ibañez

Leave a Reply

Your email address will not be published.

12 − 9 =

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.