THE Department of Budget and Management (DBM) said it had released P5.02 trillion of the 2023 national budget by the end of August.

The DBM’s Status of Allotment Release report indicated a release rate of 95.3%, behind the year-earlier pace of 96.5%.

This leaves P248.3 billion in undistributed releases from the budget.

At the end of August, the release rate of government agencies and departments stood at 97.1%, equivalent to P3.4 trillion of their allotments.

Special Purpose funds released P351.55 billion or 68.1% of their allocations.

Meanwhile, Automatic Appropriation releases amounted to P1.36 trillion or 84.6%.

These include the P887.52 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