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DBM releases 95.6% of budget at end-August

dbm releases 95 6 of budget at end august 816x445 - DBM releases 95.6% of budget at end-August

THE DEPARTMENT of Budget and Management (DBM) has released 95.6% of the P4.1-trillion spending plan for 2020 as of end-August.

The agency has so far released P3.924 trillion of the budget, data from the DBM showed. This leaves P176.303 billion yet to be distributed to respective government units.

Line agencies have already received 90.58% or P2.127 trillion out of the reduced P2.348-trillion programmed under the 2020 General Appropriations Act.

Some 49% or P297.395 billion of the P491.422 billion allotment for special purpose funds have also been released. The funds include budgetary support to state-owned firms, allocations to local government units (LGUs) and the contingent fund, among others.

Under automatic appropriations, the DBM has already disbursed P1.261 trillion, higher than the downwardly-adjusted program of P1.259 trillion. The segment includes retirement and life insurance premiums and the internal revenue allotment of local government units, among others.

On the other hand, the DBM has already completed the disbursement of other releases worth P237.148 billion under the 2019 General Appropriations Act. — LWTN

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