National Government Subsidizes PHP137.1 Billion to GOCCs in First Nine Months of 2023

Manila – The national government has allocated PHP137.1 billion in subsidies to government-owned and controlled corporations (GOCCs) from January to September this year.

According to Philippines News Agency, the Philippine Health Insurance Corp. (PhilHealth) was the leading recipient, garnering PHP50.6 billion in budgetary support. Following closely were the National Irrigation Administration with PHP31.8 billion and the National Housing Authority with PHP16.6 billion. For the month of September alone, subsidies slightly decreased to PHP21.2 billion compared to PHP23.6 billion in the same period last year. The National Housing Authority was the largest beneficiary for the month with PHP11.1 billion, trailed by the National Irrigation Administration (PHP2.9 billion), the Philippine Crop Insurance Corporation (PHP2.7 billion), the National Electrification Administration (PHP1.3 billion), and the National Food Authority (PHP1.0 billion).