Nation, News

DBM says 96% of agency budgets already out

Cbanga360.Net - The Bicol Street Journal

Published         24 Oct , 2015      5:17 am          202 views.

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The Department of Budget and Management (DBM) reported that government agency allotments continue to keep ahead of last year’s rates, with 96.4 percent of funds already released to departments and agencies as of September 30.

Allotment releases to agencies over the first nine months of 2015 outpaced last year’s figures, with P1.29 trillion already released compared to last year’s (2014) P1.1 trillion.

“While most of this year’s National Budget has already been released to agencies, we still have around 60 percent of Special Purpose Funds available. For example, only 26.6 percent of the National Disaster Risk Reduction Management Fund has been released to date,” Budget Secretary Florencio ‘Butch’ Abad said.

“While it may seem like we’re lagging in this regard, the availability of these funds for release means we’re prepared to address the aftermath of calamities hitting the country like Typhoon Lando,” he added.

Fund releases in 2015 as a proportion of the total P2.606-trillion General Appropriations Act reached 90.2 percent or P2.350 trillion. The figure represents a near P300 billion-increase over releases made in 2014, even as the end of September 2014 had 90.8 percent of the P2.265 trillion-budget already released.

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