93% of 2022 budget released in first half

MANILA, Philippines — The government has freed up 93 percent of the record P5.02 trillion 2022 national budget as of the first semester, the Department of Budget and Management (DBM) said.

In a report, the DBM said the government has released P4.68 trillion or 93.2 percent of this year’s budget as of end-June.

In the same period last year, the government issued only 85.1 percent or P3.83 trillion of the P4.51 trillion budget in 2021.

Data showed  that the DBM released P3.07 trillion under the 2022 General Appropriations Act (GAA). This was 91.8 percent of the total P3.34 trillion financing.

It also released P1.41 trillion for automatic appropriations, which is 83.6 percent of the P1.68 trillion aggregate funding.

Under the 2022 GAA, the DBM said it has distributed 96.3 percent or P2.78 trillion of the P2.88 trillion for various departments.

However, in terms of special purpose funds, only 63.5 percent or P290.32 billion has been handed out from the P457.32 billion.

For automatic appropriations, the government has already recorded 100 percent utilization for national tax allotment (P959.04 billion), block grants (P66.96 billion) and tax expenditures fund (14.5 billion).

The government is also almost complete (99.9 percent) in the issuance of P41.07 billion in special account in the general fund.

This is inclusive of the release of the P10 billion Rice Competitiveness Enhancement Fund under the Rice Tariffication Law.

The DBM said the government has spent an extra P1.71 billion on top of the P60.02 billion for retirement and life insurance premiums to cover for new hires.

The agency also released half of the P512.59 billion allotment for interest payments.

Further, issuance for the pensions of former presidents or their widows remained at 90 percent or P432,000 of the total P480,000, as well as for net lending at P7.18 billion, the lowest utilization rate at 25 percent.

Meanwhile, the government used up P204.57 billion for other releases, the bulk of which went to unprogrammed appropriations worth P128.35 billion.  For next year, the projected budget is 4.9 percent higher at P5.268 trillion.