DBM: 97.4% of P4.5-T national budget released as of end-October

The Department of Budget and Management (DBM) on Tuesday said it has released 97.4% of the P4.506-trillion 2021 national budget as of end-October this year.

In a statement, the DBM said P4.390 trillion of the national budget was released as of October 31, 2021.

“This therefore leaves a balance of P115.57 million, which is set to cover funding requirements for the remaining months of the year,” it said.

The Budget department said that the bulk of the allotments released, amounting to P2.496 trillion, went to various departments and agencies.

Meanwhile, some P387.12 billion was released from 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 P1.238 trillion, according to the DBM.

These include releases for the 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, and Retirement and Life Insurance Premium requirements, it said.

Further, allotments for other automatic appropriations amounting to P34.10 billion have also been released, it added.

In line with Republic Act (RA) No. 11520 which extended the validity of the Fiscal Year 2020 General Appropriations Act until December 31, 2021, the DBM said it has also released P135.50 billion.

The said amount covers allotment releases totaling to P91.86 billion for the implementation of programs and projects authorized under RA No. 11494 or the Bayanihan to Recover as One Act.

Moreover, the DBM said that P100.52 billion have 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. —Ted Cordero/KBK, GMA News