ALMOST 99 percent of the national spending program for 2019 has been released as of the end of November, the Department of Budget and Management (DBM) reported Monday.
The DBM said it released P3.622 trillion or 98.9 percent of the P3.662-trillion 2019 obligation program as of Nov. 30.
“The immediate release of funds by the DBM will ensure that national government agencies are able to swiftly implement their programs and projects, such as the construction of new roads, schools and hospitals, and the protection and promotion of the welfare of the poor and marginalized sectors, among others,” the DBM sad in a statement.
Releases to line departments amounted to P2.056 trillion, including funds allocated to agencies in the Executive branch, Congress, the Judiciary, and other constitutional offices.
Meanwhile, releases from Special Purpose Funds (SPFs) or budgetary allocations for specific socioeconomic purposes amounted to P369.04 billion so far.
SPFs include budgetary support for government corporations, allocations to local government units, contingent funds, miscellaneous personnel benefits fund, the National Disaster Risk Reduction and Management Fund, and the Pension and Gratuity Fund.
Allotment releases for automatic appropriations reached P1.076 trillion as of end-November, including 100 percent of the full-year 2019 program for the Internal Revenue Allotment of local government units.
This includes the pension of ex-presidents, their widows, special accounts in the general funds, net lending, interest payments, tax expenditures funds, customs duties and taxes, and retirement and life insurance premium requirements.
The DBM said it has released P64.812 billion for programmed appropriations which authorize additional agency expenditures for priority programs and projects when revenue collections exceed the targets or when additional funding is granted. (GMA News)
