Budget release rate hits 85.8% at end of April

THE Department of Budget and Management (DBM) said it had released 85.8% or P4.52 trillion of the 2023 national budget at the end of April.

The release rate was slightly ahead of the year-earlier pace of 85.6%.

The DBM said P749.85 billion remains undistributed from the budget.

At the end of April, releases to government agencies and departments amounted to P2.98 trillion, or 94.8% of the total.

Releases for Special Purpose funds totaled P198.1 billion, or 38.5%.

Automatic Appropriations amounted to P1.13 trillion, or 70.5% of their budget.

These include the P299.42 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