DAVAO CITY — The Department of Budget and Management (DBM) has released in June the P3.78-trillion or 92.3 percent of the P4.10-trillion program of appropriations for 2020.
The Department of Budget and Management in a statement said “This is a marked improvement when compared to the 85.5 percent of allotments released from January to June 2019, indicating the government’s commitment to continuously fund various programs and projects despite the ongoing COVID-19 pandemic”.
The statement stressed, “As of June 30, 2020, 79.8 percent of allotment releases to line departments amounted to P2.08-trillion and include funds allocated for agencies in the Executive branch, Congress, the Judiciary, and other constitutional offices”.
This leaves a balance of P288.53-billion for later release. Out of the programmed P467.9-billion appropriations for Special Purpose Funds (SPFs), the DBM has released half of the allotments amounting to P234.45-billion.
The SPFs are budgetary allocations in the GAA purposely allocated for specific socio-economic intents such as Budgetary Support to Government Corporations, Allocation to Local Government Units, Contingent Fund, Miscellaneous Personnel Benefits Fund, National Disaster Risk Reduction and Management Fund, and Pension and Gratuity Fund. Allotment releases are automatic.-Newsline.ph
