GOCC subsidies up 8.5% in 2022

Subsidies to government and controlled corporations (GOCC) rose 8.5% to 200.41 billion pesos in 2022 from 184.767 billion pesos a year earlier, data released by the Bureau of the Treasury (BTr) showed. or 122.458 billion pesos, which is 15% more than 106.586 billion pesos. the remainder, which fell 70 percent to 438 million pesos last year from 1.472 billion pesos in 2021. received the largest subsidy last year, receiving almost 40% of the total, or 80.048 billion pesos, but down 1.15% year on year. The National Irrigation Administration came in second with 40.662 billion pesos, up 6.1% than in 2021. The National Housing Authority received 17.13 billion pesos, down 33 percent from the previous year. Other large recipients were Power Sector Assets and Liabilities Management Corp. (8 billion pesos), National Food Authority (7 billion pesos), National Power Corp. (6.587 billion pesos), Philippine Fisheries Development Authority (5.603 billion pesos), Base Conversion and Development Authority (4.581 billion pesos), Philippine Crop Insurance Corp. (4.366 billion pesos) and the National Electrification Authority (3.613 billion pesos).

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