MANILA, Philippines — The national government has released 84 percent of its P3.77 trillion budget in the first quarter, data from the Department of Budget and Management (DBM) showed.
In its latest Status of Allotment Releases report, the DBM said about P3.17 trillion of the government’ total budget for 2018 has already been released to state agencies in the first three months of the year.
This means about P601.67 billion of the 2018 national budget has yet to be given to agencies this year.
According to DBM data, the 84 percent allotment rate as of end-March is higher than the 79.9 percent recorded in the same period in 2017.
The release of allotments to state agencies and offices allows them to enter into contracts for public programs and projects. Once they enter into contracts, funds will be obligated.
Agencies must then secure a notice of cash allocation from the DBM before they can redeem their checks from the Bureau of Treasury to pay for their contracted services.
Of the budget released as of the first quarter, about P2.04 trillion was released to government agencies, according to the DBM.
This corresponds to 88.9 percent of the P2.29 trillion programmed for line agencies under the 2018 General Appropriations Act.
According to DBM data, a total of 12 agencies have already received their full allotments as of the first quarter of the year.
These include the Legislative- Executive Development Advisory Council, Anti- Money Laundering Council, Climate Change Commission, Commission on Filipinos Overseas, Dangerous Drugs Board, Governance Commission for Government-Owned and Controlled Corporations, National Anti-Poverty Commission and the National Youth Commission.