Aquino admin pump-primes economy, releases 91.3% agency expenditures 

The Aquino administration released P793 billion or 91.3 percent of agency expenditures, as of end-February to pump prime the economy, the Department of Budget and Management (DBM) said Monday.   “In contrast to our previous year’s performance, we’re determined to make the bulk of our releases within the first semester of this fiscal year,” said Budget Secretary Florencio Abad.   “This way, government agencies can take advantage of the good weather in the coming months for rolling out their projects, ahead of the opening of classes and the rainy season,” Abad added.   Agency expenditures would amount to P869 billion this year, according to DBM data.   According to the Budget department, fund releases under the 2012 General Appropriations Act would further accelerate once the balance for each department is released.   These include  P20.3 billion for the Department of Health, P12.2 billion for the Department of Transportation and Communications, P10.3 billion for the Department of Agriculture, P9 billion for the Department of Education, and P7.9 billion for the Department of Public Works and Highways.   Of the P1.8-trillion general appropriations for 2012, the Aquino administration has so far released P1.108 trillion or 61 percent, the DBM said.   For capital outlay, the Budget department has already released 72.5 percent or P151 billion of the programmed P208.3 billion.   Government is careful with its releases to ensure that standards for accountability and transparency are upheld, according to the budget chief.   “As much as we want to fast-track spending, we need to balance this out with agency due diligence and compliance, especially with respect to our standards for accountability and transparency,” Abad added. —VS, GMA News