PhilHealth Fund Return Fuels Surge in GOCC Subsidies
Subsidies to government-owned and controlled corporations (GOCCs) in the Philippines surged more than fourfold in April, reaching P66.28 billion, driven by the return of P60 billion in unutilized funds to the Philippine Health Insurance Corp. (PhilHealth). This amount was repatriated to the state insurer following a Supreme Court ruling.
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- Subsidies to Philippine State Firms Surge 355.7% to P66.28B in April
Subsidies to Philippine government-owned and -controlled corporations (GOCCs) surged 355.7% year-on-year to P66.28 billion in April, largely driven by a P60 billion disbursement to the Philippine Health Insurance Corp. (PhilHealth). Cumulative subsidies for the first four months also rose significantly.