THE Department of Budget and Management (DBM) said it had released P4.68 trillion of the 2023 national budget at the end of May.

The release rate was 88.9%, slightly ahead of the year-earlier pace of 88.8%.

The DBM said in its Status of Allotment Release report that P585.66 billion remains undistributed from the budget.

At the end of May, releases to government agencies and departments amounted to P3.02 trillion or 95.9% of their allocations.

Special Purpose funds released by the end of the month stood at P262.77 billion, representing 50.9% of the funds allocated to them.

Automatic Appropriation releases amounted to P1.19 trillion or 73.9%.

These include the P550.93 million for retirement and life insurance premiums of various National Government agencies and P10 billion for the Rice Competitiveness Enhancement Fund. — Luisa Maria Jacinta C. Jocson