DBM releases 94.5% of 2017 budget.
MANILA, Philippines The national government has released 94.5 percent of its P3.35 trillion budget as of the end of November, data from the Department of Budget and Management (DBM) showed. In its latest status of allotment releases report, the DBM said 94.5 percent or P3.17 trillion of its total budget for 2017 has already been released to state agencies in the first 11 months of the year.
This allotment rate was broadly consistent with the allotment release level of 94.6 percent the same month in 2016. Once allotments are released, state agencies and offices are already allowed to enter into contracts for public programs and projects. Funds will be obligated when they enter into contracts.
They must secure a notice of cash allocation from the DBM before they can redeem their checks from the Bureau of the Treasury to pay for their contracted services. Of the budget released as of November, the DBM said P1.89 trillion went to state agencies.
This corresponds to 96 percent of the P1.97 trillion programmed for line agencies under the General Appropriations Act. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 According to DBM records, 25 agencies have already acquired their full allotments as of the end of November.
These include the Office of the President, Office of the Vice President, Department of Foreign Affairs, Department of Social Welfare and Development, Commission on Higher Education, Dangerous Drugs Board, Housing and Urban Development Coordinating Council, and Office of the Presidential Adviser on the Peace Process, among others. The remaining agencies have already been given 85 percent to 99.9 percent of their allotments from the 2017 budget.
Meanwhile, P302.16 billion from the budget released from January to November came in the form of special purpose funds. This accounts for 64.7 percent of the P466.80 billion adjusted program for special purpose funds.
These funds cover lump-sum allocations for specific purposes. The release of these requires the submission of special budget requests duly supported by complete documentary requirements.
Another P891.35 billion was released for automatic appropriations, which include debt payments, tax expenditures, grants and pensions, and others. In an earlier statement, the DBM said the remaining unreleased budget comprised of allotments from agency-specific budgets and the special purpose funds.
Unreleased allotments under the special purpose funds include the miscellaneous personnel benefits fund, pension and gratuity funs, budgetary support to government corporations, and special shares of LGUs in the proceed of national taxes. Meanwhile, the DBM said the balance from agency-specific budgets mainly include requirements for the basic educational facilities fund and Armed Forces of the Philippines modernization program, among others.
"Line agencies have been expediting the requests for the release of their allotments, as well as obligating these funds since the 2017 appropriations are only valid until Dec. 31 this year.
These releases are on top of the releases made earlier this year and could further fan the growth of disbursements in the last two months of 2017," the DBM said.
|Printer friendly Cite/link Email Feedback|
|Publication:||Philippines Star (Manila, Philippines)|
|Date:||Dec 8, 2017|
|Previous Article:||Coderos, Tudtud banner elite cast in PPS-Argao leg.|
|Next Article:||DENR urges serious focus on climate change in ASEAN.|