THE Department of Budget and Management (DBM) has released 44.3 percent, or P179.7 billion, of lump sum or special purpose funds (SPFs) from the 2015 national budget to fund local projects and salaries and pension of government personnel.
The DBM disbursement report in June showed that only P226.1 billion is left from the total P405.7 billion lump-sum funds for 2015.
Of the total releases, the DBM report also showed that the biggest lump-sum release in terms of amount was for the support of government corporations at P66.4 billion, or 66.7 percent, of the actual budget.
At the same time, the highest release in terms of percentage was 90.5 percent for the Metropolitan Manila Development Authority at P1.98 billion from the total P2.18 billion worth of allocation.
Budget Secretary Florencio B. Abad said the early release of SPF is part of the fiscal management reform measures to fund projects that will sustain economic growth.
He said under the program General Appropriations Act as Release Document, “the DBM made the majority of funds available to agencies at the very start of the year.”
“The remaining allotments are earmarked for later release, once agencies have complied with conditions or have requested the funds,” Abad said.
Meanwhile, the second-biggest SPF release in terms of amount was P48.2 billion for the Pension and Gratuity Fund which is 38.1 per cent of the total allocation.
Miscellaneous and Personnel Benefits also obtained the third highest release from the SPF allocation in terms of amount at P43. 7 billion, or 37.2 percent, of the total allocation. The DBM also released 74.3 percent, or P7.9 billion, of SPF share for International Commitment Funds.