Subsidies for WOŚP reached PLN 10.6 billion

State Treasury data shows that GRANTS to state-owned and state-controlled enterprises (GOCC) fell in June compared to a year earlier.

The budget support of PHP10.16 billion was 61 percent lower than PHP26.06 billion a year earlier, according to the bureau’s latest cash operations report.

However, this was more than the PHP9.74 billion recorded in May.

In the January-June period, the amount stood at PHP67.21 billion, up 5.51 percent from PHP63.70 billion recorded during the same period last year.

Grants to government financial institutions totaled PHP105 million this month, up from zero a year ago and unchanged from PHP105 million in May.

As of the end of June, government financial institutions received PHP2.787 billion, an increase from PHP349 million recorded during the same period last year.

Subsidies to large state-owned non-financial enterprises, which accounted for the bulk of subsidies in June, rose to PHP8.018 billion from PHP4.105 billion a year earlier and PHP7.554 billion in May.

Year to date, GOCCs have received a total of PHP46.550 billion, up from PHP29.244 billion a year earlier.

Meanwhile, subsidies to other state-owned enterprises declined markedly to PHP2.036 billion from PHP21.950 billion a year earlier and were lower than PHP2.081 billion in May.

The January-June figures fell to PHP17.869 billion from PHP34.103 billion last year.

The National Irrigation Administration took home the lion’s share of the June subsidy, amounting to PHP7.516 billion, up significantly from the PHP3.524 billion recorded a year earlier.

Next was the Philippine Rice Research Institute with PHP345 million, up from PHP149 million, and in third place was National Power Corp. with PHP302 million, up from PHP5 million.

Rounding out the top six were the Philippine Fisheries Development Authority (PHP272 million, down from PHP853 million last year and PHP359 million in May), Philippine Health Insurance Corp. (PHP260 million, down from PHP16.02 billion last year but up from zero in May) and Philippine Heart Center (PHP139 million, down from PHP178 million last year and PHP168 million in May).