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DBM releases P4.39T of 2021 budget

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The Department of Budget and Management (DBM) announced that as of end-October 2021, P4.39 trillion, or 97.4 percent of the P4.50 trillion national budget for the fiscal year 2021 has been released.

Still, the latest figures leave a measly P115.57 million, to cover funding requirements of the national government or NG for the last two months of the year.

According to the DBM, bulk or P2.49 trillion of the allotments released, went to various departments and agencies while some P387.12 billion was released from special purpose funds such as budgetary support to government corporations, allocation to local government units (LGU) and contingent funds among others.

Allotment releases for automatic appropriations increased to P1.23 trillion, which include releases for the internal revenue allotment of LGU, pension of ex-president/ex-president widows, net lending, interest payments, tax expenditures as well as retirement and life insurance premium requirements.

“Further, allotments for other automatic appropriations amounting to P34.10 billion have also been released,” it said.

“Finally. P100.52 billion have been released from unprogrammed appropriations, which are standby appropriations that authorize additional agency expenditures for priority programs and projects when revenue collections exceed the resource targets or when additional grants or foreign funds are generated,” it added.

While at it, the DBM has released P135.50 billion for the 2020 general appropriations act, which was extended until the end of this year.

“This covers allotment releases totaling to P91.86 billion for the implementation of programs and projects authorized under RA (Republic Act) No. 11494 or the Bayanihan to Recover as One Act,” the DBM explained.

 

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