State subsidies fall to P7.58B
State subsidies in February 2021 was recorded at a lower P7.57 billion from P10.48 billion in February 2020
Subsidies distributed to government-owned and-controlled corporations (GOCC) were lower as of end-February at P7.58 billion versus P10.48 billion a year-ago which are mostly geared towards the campaign to cushion the impact of the economic slowdown caused by the coronavirus disease 2019.
State aid in February 2021 was recorded at a lower P7.57 billion from P10.48 billion in February 2020.
The National Irrigation Administration (NIA) received the biggest in fusion for the month with P4.99 billion followed by the Bases Conversion and Development Authority (BCDA) with P720 million.
The Small Business Corporation got the third biggest cut with P300 million.
Other GOCC that were granted subsidies in February include the Cultural Center of the Philippines (P67 million), Aurora Pacific Economic Zone and Freeport Authority (P8 million), Lung Center of the Philippines (P84 million) and Credit Information Corporation (P13 million).
State aid flows
Recipients of state financial aid as of end-February include the National Dairy Authority (P28 million), Philippine Heart Center (P296 million), Philippine Institute for Development Studies (P32 million) and Philippine Institute of Traditional and Alternative Health Care (P24 million).
Other GOCC on the list were the Zamboanga City Special Economic Zone Authority (P8 million), National Kidney and Transplant Institute (P213 million) and Philippine Children’s Medical Center (P209 million).