56% of 2022 budget out – DBM

HALF of this year's national budget has already been released to agencies, government data showed on Thursday.

Allotment releases for January totaled P2.81 trillion — 56.1 percent of the P5.02-trillion budget for 2022 — based on Department of Budget and Management figures. The amount was higher than the programmed P2.62 trillion.

Line departments received P2.38 trillion, which included funds for agencies and other constitutional offices.

Special purpose funds (SPFs) — budgetary allocations established under the General Appropriations Act for certain socioeconomic reasons — received a total of P90.16 billion. These are usually lump sum in nature as recipient agencies and/or specific programs and projects were not identified during budget preparation and legislation.

SPFs are used for financial assistance for government corporations, distribution to local government, contingencies, miscellaneous personnel benefits and national catastrophe risk mitigation and management as well as pension and gratuity payments.

Automatic appropriations accounted for P337.29 billion of the allotment releases. These included P60.02 billion for retirement and life insurance premiums; P239.76 billion for national tax allotments; P16.74 billion for block grants; P432,000 for pensions of ex-presidents and widows of former presidents; P17.06 billion for the special account for the general fund; and P3.70 billion for tax expenditure funds/customs duties and taxes.

Other releases totaled P4.15 billion, including unprogrammed allocations, continuing appropriations for 2020 and other automatic allocations.

Still to be released is P2.20 trillion of the P5.02-trillion obligation program for 2022.

Source: TheManila Times