THE Department of Budget and Management (DBM) said the release of the remaining P427.9 billion from the 2015 national budget will depend on the documentary compliance of key spending agencies and departments still entitled to the funds.
In a disbursement report, the DBM said the key spending agencies need to accelerate spending to sustain growth and development. But before the remaining funds are released, these agencies need to improve budget planning and spending.
“The government sees a continuous acceleration in monthly spending in the following months,” latest DBM disbursement report said.
It added that “to further improve government spending, Cabinet-level discussions were held to address the issues that hampered spending in the previous month and to adopt measures to help departments-agencies achieve their spending and physical.”
The DBM said large program balances under agency-specific budgets include the P48.1-billion current year allocation for the basic educational facilities fund of the Department of Education, which was transferred to the Department of Public Works and Highways for implementation.
These unreleased funds also include the P12.5-billion appropriation under the Department of Health budget for the health facilities enhancement program, as well as the operation of special hospitals, medical centers, sanitaria and other medical hospitals.
The DBM said the bulk of unreleased budget includes funds under the special purpose funds (SPFs), including the P109.7 billion for the grant of productivity enhancement incentive.
The department also said that P83.7 billion, which is intended to cover pension requirements and terminal leave-retirement gratuity benefits for the rest of the year, remains unreleased.
Other unreleased SPF include budgetary support for government-owned and -controlled corporations worth P85.4 billion, which is composed mostly of the National Health Insurance Program for indigent families of the Philippine Health Insurance Corp., P37.2 billion; balance for irrigation projects of National Irrigation Administration, P20.1billion; and resettlement programs of the National Housing Authority, P5.1 billion.