DBM: Bulk of 2015 budget released as of end-February

MANILA, Philippines–More than 80 percent of the 2015 national budget has already been released as of end-February, the latest Department of Budget and Management (DBM) data showed.

The latest report on the status of allotment releases showed that a total of P2.086 trillion or 80.1 percent of the P2.606-trillion budget for this year were released in the first two months of the year.

DBM documents showed that P413 billion in funds were disbursed in February alone, to add to the P1.673 trillion released in January.

Of the end-February releases, P1.266 trillion was under the general appropriations act (GAA). For government agencies, a total of P1.221 trillion was released, while P44.351 billion were poured into special purpose funds.

Thus, of the P1.740 trillion programmed as allotment releases under the 2015 GAA, 72.7 percent was already disbursed.

As for automatic appropriations,  92.1 percent or P797.4 billion of the programmed P866.231 billion was released in the first two months of the year.

Automatic appropriations covered internal revenue allotment (IRA), retirement and life insurance premium, special account in the general fund (including motor vehicle users charge fund), and releases under the tax expenditures fund for customs duties and taxes to be paid for government importation.

The entire P389.860 billion allocated for IRA in 2015 has already been disbursed as early as end-January, DBM data showed.

On top of the P2.063 trillion released under the original 2015 program, another P23.194 billion was released during the first two months—P6.236 billion from the supplemental budget for 2015 and P16.958 billion from the continuing appropriation of the 2014 national budget.

For the remainder of the year, the balance of P519.740 billion must still be disbursed under this year’s budget program.