THE DEPARTMENT of Budget and Management (DBM) said on Tuesday that it had released more than 4 trillion pesos of budgetary funds to government agencies and local government units by the end of April.
In the DBM Allocation Releases Report for April, the 4.3 trillion pesos released equaled 85.6% of the 2022 budget, leaving 723.26 billion pesos remaining to be distributed.
By the end of April 2021, the DBM had released 3.6 trillion pesos, just over 80% of the 4.5 trillion peso budget that year.
As of April 2022, releases to government agencies and departments amounted to P2.72 trillion, or 94.5% of the funds allocated to them.
Meanwhile, special purpose (SP) funds released during the month amounted to 173.75 billion pesos, or 38% of the SP budget.
Elements of the SP include budget support to local government units, the Reserve Fund, the Miscellaneous Staff Benefits Fund and the National Disaster Risk Reduction and Management Fund.
Automatic credit releases amounted to 1,270 billion pesos, or 75.8% of the total allocated.
These automatic credits include pension and life insurance premiums, earmarking of internal revenue, block grants and interest payments.
The national budget for 2022 is configured to support a recovery from the pandemic. The budget is equal to 21.8% of projected gross domestic product, with about a fifth reserved for capital spending, which includes infrastructure spending. — Tobias Jared Tomas