THE Department of Budget and Management (DBM) has released P3.542 trillion out of the total P3.662-trillion obligation program, or equivalent to 96.7 percent of the 2019 budget, as of end-October.
In a statement on Thursday, the DBM said the immediate release of funds will “ensure that national government agencies are able to swiftly implement their programs and projects, such as the construction of new roads, schools and hospitals, and the protection and promotion of the welfare of the poor and marginalized sectors, among others.”
Broken down, allotment releases to the line departments amounted to P2.027 trillion while Special Purpose Funds reached a total of P337.424 billion.
Allotment releases for automatic appropriations increased to P1.075 trillion. Automatic appropriations are those programmed annually or for some other period prescribed by law.
Automatic appropriations comprise 100 percent of the fiscal year 2019 program for the Internal Revenue Allotment of local government units (P575.521 billion), Pension of Ex-President/Ex-President Widows (P480,000), Special Account in the General Fund (P20.055 billion) Net Lending (P14.5 billion), Interest Payments (P399.571 billion), Tax Expenditures Fund/ Customs Duties and Taxes (P14.5 billion), and Retirement and Life Insurance Premium requirements (P50.775 billion).
The Retirement and Life Insurance Premium requirements released over the period is inclusive of P3.61 billion referring to the additional requirements for newly created or newly filled positions in various agencies, resulting in a 107.7 percent release for the category, the DBM said.
Moreover, the DBM also disbursed P25.543 billion for continuing appropriations of the 2018 GAA for line departments and releases from Special Purpose Funds as of end-October. Continuing appropriations refer to appropriations available to support obligations for a specified purpose or project, such as multiyear construction projects which require the incurrence of obligations beyond one fiscal year.
As for unprogrammed appropriations, P50.518 billion have also been released. By definition, unprogrammed appropriations are standby appropriations which 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.
Meanwhile, allotments for other automatic appropriations, posted at P26.641 billion, have been released.