DBM releases P2.8 trillion to agencies, LGUs
THE Department of Budget and Management (DBM) has released P2.8 trillion to government agencies and local government units (LGUs) in the first month of the year, data released on Wednesday showed.
Releases so far accounted for 56.1% of the P5-trillion national budget for the year, leaving P2.2 trillion more to be released.
To compare, the DBM had released P2.6 trillion, or 58.3% of the P4.5-trillion 2021 budget in January last year.
Releases to government agencies reached P2.39 trillion last month, or 82.8% of the allotted amount.
Special purpose funds, or allocations for specific socioeconomic aims, amount to 19.7% of the allotted amount, or P90.2 billion in January.
Special purpose funds include the budget support to local government units, the Contingent Fund, the Miscellaneous Personnel Benefits Fund, and the National Disaster Risk Reduction and Management Fund.
Releases from automatic appropriations hit P337.3 billion, or 20% of the funding to be disbursed this year.
Automatic appropriations include retirement and life insurance premiums, internal revenue allotments, block grants, and interest payments.
The national budget for 2022 is aimed at supporting economic recovery from the pandemic. It represents 21.8% of the gross domestic product (GDP), with a fifth set aside for capital outlays, which includes infrastructure spending. — Jenina P. Ibañez
