DBM report: ₧653.43B in Covid response support funds released

THE Department of Budget and Management (DBM) has so far released a total of P653.43 billion to support the government’s fight against Covid-19.

As of April 15, the DBM said in a statement on Tuesday that P646.97 billion was released under two Bayanihan measures while P6.46 billion was released for various programs, activities and projects in line with government’s Covid-19 response upon the expiration of Bayanihan to Heal as One Act (Bayanihan 1).

Under Bayanihan 1, DBM said it released P387.17 billion, of which implementing agencies have already obligated 92.53 percent of the amount or P358.24 billion. Out of the obligated amount, 94.81 percent or P339.65 billion was already disbursed by the agencies.

An amount is said to be obligated if the government agency has already committed to an immediate or eventual payment of a sum of money.

On the other hand, an amount is considered disbursed if there is already a settlement/liquidation/payment of an obligation incurred.

Meanwhile, releases under Bayanihan 2 amounted to P259.8 billion, of which 51.06 percent or P132.65 billion has been obligated. Of the obligated amount, 70.34 percent or P93.31 billion has been disbursed based on agency reports submitted to the DBM.

In terms of releases made upon the expiration of Bayanihan 1, DBM said 64.56 percent or P4.17 billion was already obligated. Of the obligated amount, 77.28 percent or

P3.22 billion was already disbursed. These releases were charged against regular funds under the 2020 national budget.

The budget department said agencies may still utilize fund releases sourced from the 2020 national budget until December 31, 2021 in line with Republic Act No. 11520 which extended the validity of appropriations of the national budget.

Fund releases under Bayanihan 2 law are still valid for obligation and disbursement until June 30 this year after Republic Act 11519 also extended the availability of appropriations authorized under the said law.

Upon the expiration of the Bayanihan Laws, all unreleased appropriations shall lapse while undisbursed funds shall revert to the unappropriated surplus of the General Fund, the DBM said.