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Budget release rate hits 81.9% at end of March

THE Department of Budget and Management (DBM) said it had released P4.31 trillion or 81.9% of the 2023 national budget at the end of March.

Some P954.4 billion of the P5.268-trillion budget for this year remains undistributed, according to the DBM Status of Allotment Releases report.

The pace of releases was ahead of the 69.4% rate at the end of March 2022.

Releases to government agencies and departments amounted to P2.95 trillion, for a utilization rate of 93.8%.

Special Purpose funds released totaled P147 billion or 28.6% of the budgeted funds for the year.

Releases for Automatic Appropriations stood at P1.07 trillion, or 66.4% of the total.

These include the P240.76 million for retirement and life insurance premiums of various National Government agencies and P10 billion for the Rice Competitiveness Enhancement Fund. — Luisa Maria Jacinta C. Jocson

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