90.2% of ’16 budget released as of end-August

The national government has released 90.2 percent of the 2016 budget as of August, a slower pace than a year ago, the latest Department of Budget and Management data showed.

During the first eight months, P2.708 trillion of the P3.002-trillion budget was released, including continuing appropriations under the 2015 national budget and other automatic appropriations.

Last year, 92 percent or P2.397 trillion of the P2.606-trillion 2015 budget was released as of end-August.

For releases covering the original 2016 general appropriations act, allotment releases reached P2.67 trillion during the eight-month period or 89 percent of the program.

Comprehensive releases to government departments as of August amounted P1.53 trillion or 94.6 percent of the programmed P1.62 trillion.

As for special purpose funds, P259.8 billion or 57.6 percent of the P451.2 billion programmed for 2016 have been released.

Automatic appropriations—programmed over a period prescribed by law through outstanding legislation requir  ing periodic action by Congress—worth P878.5 billion or 94.4 percent of the P930.7-billion program for this year were released during the first eight months.

These automatic appropriations included retirement and life insurance premium, internal revenue allotment for local government units, pensions of former presidents as well as ex-presidents’ widows, grants and donations, special account in the general fund (including motor vehicle users charge fund), net lending, interest payments and releases under the tax expenditures fund for customs duties and taxes to be paid for government importation.

Also released as of end-August were P36.8 billion from continuing and automatic appropriations for departments, special purpose funds as well as donations and grants, the military camps sales proceeds fund and the Armed Forces of the Philippines Modernization Act trust fund.

A balance of P293.9 billion must still be released before yearend.

The budgets released will be obligated by agencies for specific projects. Upon award of the projects, the allotted amounts will be disbursed for payments to contractors and suppliers.