Gov’t releases P1.1T of 2012 budget

Budget Secretary Florencio B. Abad: Swift budget release

The Department of Budget and Management has released 61 percent, or P1.1 trillion, of the P1.8-trillion national budget for 2012 as of end-February, according to Budget Secretary Florencio B. Abad.

Abad said this was achieved with the disbursement of a big chunk of automatic appropriations amid efforts to speed up spending compared with the government’s 2011 performance.

“In contrast to our previous year’s performance, we’re determined to make the bulk of our releases within the first semester of this fiscal year,” he said. “This way, government agencies can take advantage of the good weather in the coming months for rolling out their projects, ahead of the opening of classes and the rainy season.”

The budget chief said the DBM has released 41.5 percent of the P723.6 billion for automatic appropriations, including all of the P273.3 billion earmarked for internal revenue allotments (IRA) for local government, as well as P22.8 billion, or 98.1 percent, of the P23.2-billion budget for retirement and life insurance premiums of government employees.

Abad said 91.3 percent, or P793 billion, of this year’s P869-billion budget for government agencies has also been released.

“The swift pace of our budget releases affirms the Aquino administration’s commitment of ensuring the quick delivery of critical goods and services to the public, particularly the poorest and most marginalized,” Abad said.

“The releases will enable all government departments and agencies to implement key projects and programs within—or even ahead of—their respective schedules for this fiscal year,” he added.

Of this chunk of the 2012 budget, P425 billion, or 99.7 percent, of the P426.1 billion allocated for salaries, allowances and other benefits of government employees has been given out.

Likewise, P217 billion, or 92.5 percent, of the P234.4 billion set for maintenance and other operating expenses has been released. The same with P151 billion, or 72.5 percent, of the P208.3 billion allocated for capital outlays.

Abad said the remaining funds for departments and national agencies would be released once they submit the special budget requests and other documentary requirements.

“As much as we want to fast-track spending, we need to balance this out with agency due-diligence and compliance, especially with respect to our standards for accountability and transparency,” he said.