DBM: 95.7% of 2020 budget released as of end-August

The Department of Budget and Management (DBM) said Wednesday it has released P3.92 trillion of the P4.10-trillion 2020 national budget for the first eight months of 2020.

As of end-August, the DBM said it has released 95.7% of the 2020 program of appropriations. The first eight months release is higher than the 91.4% of allotments released in the same period last year.

In particular, about P2.13 trillion were released for line agencies' various programs/activities/projects (PAPs) during the period. This is 90.6% of the total P2.35-trillion programmed appropriations for line agencies’ PAPs.

This leaves a balance of P221.38-billion for later release, the DBM said.

Out of the programmed P491.42-billion appropriations for Special Purpose Funds (SPFs), the Budget Department has so far released 60.5% amounting to P297.40-billion.

SPFs are budgetary allocations in the General Appropriations Act allocated for specific socio-economic purposes 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.

Meanwhile, allotment releases for automatic appropriations reached P1.27 trillion, surpassing the fiscal year 2020 program.

The DBM has also released P77.22-billion from the continuing appropriations for line departments and releases from SPFs.

The Budget Department, likewise, released P154.13-billion from Unprogrammed Appropriations, which are standby appropriations authorizing additional agency expenditures for priority programs and projects when revenue collections exceed the resource targets or when additional grants or foreign funds are generated.

The DBM said it has yet to release P176.30-billion from the fiscal year 2020 program for the remainder of the year.

“This will continue to support the operations of the National Government including for the roll out of projects and programs that will address the COVID-19 pandemic,” it said.

“The DBM likewise assures that it will release the necessary budgetary requirements to implement the proposed Bayanihan to Recover as One Act once it is signed into law,” it said. — Ted Cordero/RSJ, GMA News