86 percent of P5.768 trillion national budget released as of April

MANILA, Philippines — The government has released P5 trillion or about 86 percent of the record P5.768 trillion allocation this year as state agencies move to implement their respective projects.

Latest data from the Department of Budget and Management (DBM) showed that it has issued P4.96 trillion of the 2024 budget as of end-April.

This represents 86 percent of the national budget allocated for the year, a slight improvement from the 85.8 percent in April 2023.

Based on data, the DBM released P3.65 trillion under the 2024 General Appropriations Act (GAA). This is 91.1 percent of the total P4 trillion financing.

Under the 2024 GAA, the DBM said it has distributed 97.2 percent or P3.4 trillion of the P3.5 trillion for departments.

In terms of special purpose funds, releases increased to 49 percent which means that P248.66 billion has been handed out from the P507.48 billion allocation.

On the other hand, automatic appropriations are already at 71.3 percent or about P1.25 trillion of the P1.76 trillion aggregate funding.

As of the end-April, the DBM has fully released allocation for the national tax allotment (P871.36 billion), block grants (P70.51 billion) and pensions of former presidents or their widows (P480,000).

Apart from these, the government jacked up releases for the tax expenditure fund at P14.06 billion or 97 percent of the P14.5 billion allocation as of end-April.

The government also released more funds for interest payments, which is now at P193 billion or 28.8 percent of the P670.47 billion total funding for 2024.

For the first time this year, the DBM disbursed P7.18 billion for net lending, which is 25 percent of the P28.7 billion earmarked for the year.

The DBM also freed up the entire P65.79 billion in retirement and life insurance premiums (RLIP) of state workers as early as January and added some P231.34 million in extra funds as of end-April.

Last month, the DBM did not issue additional releases to the special account in the general fund which remained at 87.3 percent or P31.85 billion of the P36.48 billion allocation.

Meanwhile, the DBM recorded P51.02 billion in other releases as of April, a little over half of which at P27.46 billion went to unprogrammed appropriations.

Unprogrammed appropriations provide standby authority to incur additional agency obligations for priority programs or projects when revenue collection exceeds targets or when additional grants or foreign funds are generated.

Of the unprogrammed funds, P17.3 billion was earmarked to support the foreign-assisted projects of the departments of Agriculture, Finance, Health, Public Works and Highways and Social Welfare and Development.

The remaining P10.16 billion served as budgetary support to state-run firms particularly the National Food Authority and the Light Rail Transit Authority.