DBM: P3.528 trillion released

As of September 30, 2018, the Department of Budget and Management (DBM) has released P3.528 trillion or 94% of the P 3.767 trillion obligation program for fiscal year 2018.

“The quick yet prudent release of funds will enable agencies to promptly implement their programs and projects,” Budget and Management Secretary Benjamin E. Diokno said.

“Take note also that as early as end-January 2018, we have released 79% of the budget in line with the General Appropriations Act-as-Allotment-Order Policy,” he added.

In further detail, P2.177 trillion or 95% of funds allocated to the departments have already been released in the first nine months of the year. These include funds allocated for the agencies in the Executive department, as well as Congress, the Judiciary, and other constitutional offices.

Meanwhile, P 370.9 billion or 75% of the Special Purpose Funds amounting to P 494.4 billion have been released in the same period. These largely owe to releases from the Budgetary Support to Government Corporations (BSGC), Pension and Gratuity Fund (PGF), Miscellaneous Personnel Benefits Fund (MPBF), and the National Disaster Risk Reduction and Management Fund (NDRRMF).

With regards to Automatic Appropriations, P964.5 billion or 98% has been released out of the P 980.8 billion program. These are largely for the Internal Revenue Allotment (IRA), interest payments, and retirement and life insurance premiums. /