DBM releases P646.9B virus fund

The Department of Budget and Management (DBM) has released a total of P646.97-billion for the state’s COVID-19 response projects and programs under the Bayanihan laws.

Releases for the Bayanihan 1 amounted to P387.17-billion, of which implementing agencies have already obligated and disbursed P358.24-billion and  P339.65-billion, respectively.

For the Bayanihan 2, the agency reported releases amounting to P259.80 billion, P132.65 of which has been obligated, and P93.31 billion disbursed.

“In addition to the releases made to support the Bayanihan laws, the DBM has also released P6.46 billion for various COVID-19 projects, activities, and programs upon the expiration of Bayanihan 1, with P4.17 billion already obligated (64.56 percent) and P3.22 billion disbursed (77.28 percent) as of 15 April 2021,” the agency explained.

According to the DBM, such releases were taken from the regular funds under the fiscal year (FY) 2020 general appropriations act (GAA).

Still, the DBM said that agencies may still utilize fund releases from the FY 2020 GAA until end-December 2021 while fund releases charged against Section 10 of RA no. 11465 are still valid for obligation and disbursement until end-June 2021.

“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,” it concluded.

 

 

mje