THE Department of Budget and Management (DBM) said it released P3.153 trillion or 76.9% of this year’s P4.1-trillion budget as of the end of February.
The DBM said it released allotments worth P1.828 trillion to government departments, including agencies in the executive, legislative and judicial branches, for a release rate of 76.7% of their budgeted P2.382 trillion.
Of the P467.898 billion worth of special purpose funds (SPF) in the budget, the release rate was 19%, equivalent to P88.7 billion.
These funds include allocations for specific socio-economic purposes, such as budgetary assistance to state firms and allocations for local governments, the contingent fund, the miscellaneous personnel benefits fund, the National Disaster Risk Reduction and Management fund, as well as the pension and gratuity fund.
Releases for automatic appropriations totaled P1.235 trillion, equivalent to 98.9% of the P1.249 trillion budgeted.
These include Internal Revenue Allotments of local governments, block grants for the Bangsamoro Autonomous Region in Muslim Mindanao, pensions of former presidents, net lending, interest payments, and tax expenditures or customs duties.
The DBM has P946.672 billion left to release over the last 10 months of the year.
Allotment releases from continuing appropriations out of the 2019 budget amounted to P8.467 billion. — Beatrice M. Laforga