Financial support from the national government to state-run corporations experienced a significant decline in November. Subsidies plummeted nearly 39% compared to the same period last year, signaling a shift in how these entities are funded.
The total budgetary support distributed to these Government-Owned and Controlled Corporations (GOCCs) reached P7.47 billion in November. This represents a substantial decrease, both from the previous year and even from the preceding month, with a 16.23% reduction.
A single agency dominated the allocation of these funds: the National Irrigation Administration (NIA). Receiving P5.7 billion, the NIA accounted for over 76% of all subsidies disbursed in November, highlighting its critical role in national infrastructure.
Beyond irrigation, several key organizations received considerable support. The National Food Authority (NFA) was allocated P750 million, while the Philippine Heart Center and the National Kidney and Transplant Institute received P184 million and P124 million respectively, underscoring the government’s commitment to public health.
Other recipients included institutions focused on tourism, transportation, and media. The Tourism Promotions Board, Light Rail Transit Authority, and Intercontinental Broadcasting Corp. were among those receiving funds, demonstrating broad support across various sectors.
A number of cultural and research institutions also benefited, though on a smaller scale. The Cultural Center of the Philippines and the Philippine Institute for Development Studies were included in the subsidy distribution, acknowledging the importance of arts and economic research.
Interestingly, several major GOCCs did *not* receive any subsidies in November. This list included Land Bank, the Small Business Corp., and the National Housing Authority, suggesting these entities were financially self-sufficient during that period.
Looking at the broader picture, subsidies for the first eleven months of the year totaled P95.85 billion – a decrease of almost 26% from the previous year. This trend indicates a potential long-term strategy to reduce reliance on government funding for these corporations.
The NIA again led in total subsidies received over this eleven-month period, accumulating P39.73 billion. The NFA followed with P13.65 billion, solidifying their positions as the largest recipients of government financial assistance.
Government officials anticipate significant revenue generation from these state-run firms. Projections estimate P157 billion in remittances this year, with over P116 billion already contributed as of September, suggesting a move towards greater financial independence.
