According to the Department of Budget and Management (DBM), with the release of ₱4.390 trillion, or 97.4 percent of the ₱4.506 trillion allotted for the fiscal year 2021 national budget as of 31 October 2021, what remains is only a balance of ₱115.57 million, which is set to cover funding requirements for the remaining months of the current year.
MANILA, Philipines — DBM secretary Benjamin Diokno stated that the majority of the allotments issued, totaling around ₱2.496 trillion pesos, were distributed to various departments and agencies.
Meanwhile about ₱387.12 billion was released from the Special Purpose Funds such as Budgetary Support to Government Corporations, Allocation to Local Government Units, Contingent Fund, Miscellaneous Personnel Benefits Fund, National Disaster Risk Reduction and Management Fund, and Pension and Gratuity Fund.
“Allotment releases for automatic appropriations increased to ₱1.238 trillion. These include releases for Internal Revenue Allotment of Local Government Units, Pension of Ex-President/Ex-President Widows, Net Lending, Interest Payments, Tax Expenditures Fund/Customs Duties and Taxes, Retirement and Life Insurance Premium requirements.
Further, allotments for other automatic appropriations amounting to ₱34.10 billion have also been released,” Diokno explained.
The DBM has also issued ₱135.50 billion in accordance with Republic Act No. 11520, which extended the validity of the FY 2020 GAA (general appropriations act) to 31 December 2021.
This covers allotment releases totaling to ₱91.86 billion for the implementation of programs and projects authorized under RA No. 11494 or the Bayanihan to Recover as One Act.
Finally, ₱100.52 billion has been released from ‘unprogrammed’ appropriations, which are standby appropriations that authorize additional agency expenditures for priority programs and projects when revenue collections exceed the resource targets or when additional grants or foreign funds are generated.
Mr Diokno, who is also the concurrent governor of the Bangko Sentral ng Pilipinas, stated that people seeking further information on the status of allocation releases as of 31 October 2021 can visit the DBM website. (TRC/The MiNT)