Budget release rate hits 61.4% at end of Feb.
THE Department of Budget and Management (DBM) said 61.4% of the 2023 national budget has been released as of the end of February.
In its Status of Allotment release report, the DBM said that P3.23 trillion of the budget has been released to national agencies and local government units.
This leaves P2.033 trillion remaining undistributed from the P5.268-trillion budget for the year.
The pace of releases was slightly ahead of the 60.8% rate posted a year earlier.
At the end of February, releases to government agencies and departments amounted to P2.7 trillion or 85.9% of the total.
Special Purpose funds released totaled P101.9 billion, a utilization rate of 19.8%.
Automatic Appropriation releases totaled P313.2 billion or 19.5% of the budgeted funds for the year.
These include the P80.64 million for retirement and life insurance premiums of various National Government agencies and P10 billion for the Rice Competitiveness Enhancement Fund. — Luisa Maria Jacinta C. Jocson